Cotton futures are down 35 to 40 points across most contracts on Tuesday, with thinly traded October up 88 points. Crude oil is up $0.64, with the US dollar index $0.009 higher.
Weekly Crop Progress data showed 74% of the US cotton setting bolls as of Sunday, with 14% of the crop with bolls opening. Condition ratings were pegged at 38% good/excellent, down 2 percentage points on the week. The Brugler500 index was down another 9 points to 310. Deterioration was noted in TX (-11), KS (-24), OK (-20), AR/GA/LA/MO/VA (-2), as well as AL, AZ and TN. Just NC and MS saw improvement.
The Seam reported 892 bales sold in Monday’s auction at an average price of 75.15 cents. The Cotlook A Index was up 120 points on August 17 at 94.05 cents. ICE certified cotton stocks were steady on 8/14, with the certified stocks level at 72,626 bales. The Adjusted World Price was raised by 190 points last week to 68.19 cents/lb.
Oct 26 Cotton is at 84.95, up 88 points,
Dec 26 Cotton is at 85.08, down 40 points,
Mar 27 Cotton is at 86.89, down 39 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
