Cotton price action is down 10 to 48 points so far on Thursday morning. Futures posted losses of 33 to 121 points across most contracts on Wednesday. The US dollar index was $0.054 higher at $99.155. Crude oil was down $4.48 on the day to $89.41 to add pressure, but are bouncing $2.74 this morning.
NASS Crop Progress data showed 53% of the US cotton crop planted as of May 24, which matches the 5-year average pace. Of the 15 major states USDA reports on, AR, GA, KS, LA, NC, SC, TX and VA were behind normal.
