Cotton price action is up 18 to 20 points so far, with exception to thinly traded October. Futures posted Tuesday losses of 14 to 25 points on the Tuesday session. The outside markets added some pressure, as US dollar index was up $0.118 on the day to $98.135 and crude oil futures were down $1.10.
The weekly Crop Progress report from NASS showed a total of 73% of the US cotton crop setting bolls by August 17, 7 points behind average. There was 13% of the crop with bolls opening vs. 16% on average. Conditions were back up 2% at 55% gd/ex, with the Brugler500 index shooting 11 points higher to 349. Much of the improvement was noted in TX, up 21 points, as GA was down 5.
