Cotton prices are back down 45 to 78 points so far on Tuesday Futures posted 36 to 85 point gains across the board on Monday. Crude oil was back down $4.61 per barrel, with the US dollar index back up $0.61.
The Monday Crop Progress report showed 88% of the US cotton crop squared as of Sunday, now even with the 5-year average. The crop was also 55% setting bolls, with 4% bolls opening. Condition ratings were pegged at 42% good/excellent, down 4 percentage points on the week. The Brugler500 index was down 11 points to 325.
