Cotton Faces Monday Weakness
Cotton futures posted losses on Monday, with contracts 23 to 174 lower at the close. Crude oil was up $1.84 per barrel on the session, with the US dollar index up $0.609.
Weekly Crop Progress data showed 57% of the US cotton crop with bolls opening as of Sunday, with 8% of the crop with harvested. Condition ratings were pegged at 36% good/excellent, up 2 percentage points on the week. The Brugler500 index was steady at 298, as poor/very poor ratings were up 2%.
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The Cotlook A index was up 100 points on Friday at 98.20. ICE certified cotton stocks were down 3,164 bales on September 11, with the certified stocks level at 38,462 bales. The Adjusted World Price was back down 441 points on last week to 69.51 cents/lb.
Oct 26 Cotton closed at 80.64, down 174 points,
Dec 26 Cotton closed at 84.55, down 151 points,
Mar 27 Cotton closed at 87.12, down 144 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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