Cotton futures rallied on Tuesday, with contracts 145 to 159 points higher at the close. Crude oil was up another $1.76 per barrel, with the US dollar index up 0.254.
Monday afternoon’s Crop Progress showed 73% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 32% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 45% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 1 point to 332. Ratings in TX slipped 2 points, with GA steady.
