Cotton futures are down 145 to 168 points so far at Tuesday’s midday. The outside factors are pressure, with crude oil down $4.86 to $86.44/barrels. The US dollar index is down $0.089 at $99.935.
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.
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The Seam reported sales on 1,311 bales on 6/8 at an average of 74.00 cents/lb. The Cotlook A Index was down another 65 points on 6/8 at 85.50 cents. ICE certified cotton stocks were down 4,137 bales on Monday 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 is at 71.71, down 168 points,
Dec 26 Cotton is at 76.14, down 147 points,
Mar 27 Cotton is at 77.39, down 148 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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