Cotton Posts Gains on Monday
Cotton futures ended the Monday session with most contracts up 26 to 38 points. The outside markets were supportive, with the crude oil closing up $2.91/barrel, and the US dollar index slipping 15 points lower.
The weekly Crop Progress report indicated that 82% of the US cotton crop had bolls open, as harvest was 26% complete and ahead of the 22% average. Cotton condition ratings were down 2% to 29% gd/ex, with the poor/very poor ratings down 2%, which helped to raise the Brugler500 index up 2 points to 283.
ICE cotton stocks were unchanged on October 4, leaving 265 bales of certified stocks. The Cotlook A Index was down 75 points on October 4 at 84.35 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by 25 points on Thursday to 60.81 cents/lb and is good through this week.
Dec 24 Cotton closed at 73.53, up 26 points,
Mar 25 Cotton closed at 75.62, up 34 points,
May 25 Cotton closed at 76.9, up 38 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.
