Cotton futures are trading with Tuesday gains of 35 to 40 points so far on Tuesday, with October down 8 points ahead of first notice day. The outside markets are supportive, with the US dollar index down $0.045 on the day to $96.930 and crude oil futures $1.14 higher.
Crop Progress data showed a total of 60% of the US cotton crop with bolls opening, 1% above the average pace. Harvest was at 12% complete, on par with normal. Cotton conditions were down 5% to 47% gd/ex, as the Brugler500 index fell 11 points to 333. The only states to see an increase were AR and OK, as GA ratings were down 9 points, with TX slipping 13 points.
The Cotlook A Index was down another 55 points at 77.85 cents on September 22. ICE cotton stocks were again steady on 9/19, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was back up 69 points on Thursday at 54.79 cents/lb.
Oct 25 Cotton is at 64.24, down 8 points,
Dec 25 Cotton is at 66.62, up 40 points,
Mar 26 Cotton is at 68.53, up 35 points
