Cotton price action is down 2 to 30 points so far on Tuesday morning. Futures posted mixed trade of 36 points lower to 13 points higher across most contracts on Monday. The US dollar index was down $0.101 at $99.95. Crude oil was up 74 cents on the day.
Monday afternoon’s Crop Progress showed 77% of the US cotton crop planted as of Sunday, matching the average pace, with 13% squared, 2% ahead of normal. Initial condition ratings were pegged at 53% good/excellent, which was up 4 percentage points from last year. Condition ratings on the Brugler500 index were 345, 21 points higher than the initial ratings last year.
The Seam reported sales on 1,311 bales on June 5 at an average of 74.00 cents/lb. The Cotlook A Index was down 135 points on Friday at 86.15 cents. ICE certified cotton stocks were up 11,219 on 6/5 with the certified stocks level at 261,648 bales. The Adjusted World Price was down another 29 points on Thursday at 63.20 cents/lb.
Jul 26 Cotton closed at 73.39, down 36 points, currently down 2 points
Dec 26 Cotton closed at 77.61, up 13 points, currently down 26 points
Mar 27 Cotton closed at 78.87, up 7 points, currently down 30 points
