Cotton futures are trading with contracts 46 to 82 point losses at midday on Tuesday. Crude oil is down $1.20 per barrel on the session, with the US dollar index back up $0.234.
USDA’s Cotton Ginnings report showed 429,250 RB of cotton ginned by September 15. That is an 8% decline from a year ago.
Weekly Crop Progress data showed 65% of the US cotton crop with bolls opening as of Sunday, with 13% of the crop with harvested. Condition ratings were pegged at 34% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 1 point at 295.
The Seam reported a sales of 769 bales on Monday at an average of 79.25 cents.lb. The Cotlook A index was down 95 points on September 21 at 91.35. ICE certified cotton stocks were down 6,192 bales on 9/21, with the certified stocks level at 29,556 bales. The Adjusted World Price was back down 59 points last week to 68.92 cents/lb.
Oct 26 Cotton is at 79.03, down 82 points,
Dec 26 Cotton is at 82.96, down 46 points,
Mar 27 Cotton is at 85.58, down 50 points
