Cotton futures are trading with contracts 140 to 147 points higher. Futures were up 9 to 37 points across most contracts on Monday. Crude oil is up another $1.78 per barrel, with the US dollar index up 0.159.
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.
The Cotlook A Index was down 75 points on 7/20 at 87.65 cents. ICE certified cotton stocks were down 1,038 on July 20, with the certified stocks level at 97,800 bales. The Adjusted World Price was raised by 3.52 cents last week to 65.37 cents/lb.
Oct 26 Cotton is at 78.84, up 147 points,
Dec 26 Cotton is at 80.37, up 145 points,
Mar 27 Cotton is at 81.71, up 142 points
