Cotton futures ended Tuesday on a weaker noted despite a midday bounce, with contracts down 23 to 74 points on the session. Crude oil was up $1.69 on the day with the US dollar index was up $0.325.
Monday afternoon’s Crop Progress showed 60% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 22% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 44% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 1 points to 331. Crop ratings in TX were down 7 points on the week, with GA ratings improving 2 points.
The Cotlook A Index was unchanged on July 13 at 90.70 cents. ICE certified cotton stocks were down 5,842 bales on 7/13 via decertification, with the certified stocks level at 121,258 bales. The Adjusted World Price was back up 92 points last week to 62.86 cents/lb.
Oct 26 Cotton closed at 79.6, down 23 points,
Dec 26 Cotton closed at 80.87, down 64 points,
Mar 27 Cotton closed at 82.23, down 70 points
