Cotton futures are trading with 30 to 50 point gains across most contracts on Tuesday. Crude oil futures are back up cents per barrel to $60.32 on the day, with the US dollar index $0.057 higher to $99.545.
Crop Progress data from NASS estimates the US cotton crop at 71% harvested as of 11/16, lagging the 72% average pace.
The Monday online auction from The Seam showed 3,009 bales sold with an average price of 57.27 cents/lb. The Cotlook A Index was down another 30 points on 11/14 at 74.40 cents. ICE certified cotton stocks were up 1,100 bales on November 17 with the certified stocks level at 20,344 bales. The Adjusted World Price was reported last week at 51.83 cents/lb. It is good through this Thursday.
Dec 25 Cotton is at 62.67, up 31 points,
Mar 26 Cotton is at 64.56, up 50 points,
May 26 Cotton is at 65.71, up 46 points
