Cotton Posting Modest Tuesday Gains
Cotton futures are 9 to 15 points higher so far on the Tuesday session. The US dollar index is up $0.238 on the day to $97.655 with crude oil futures $0.52 higher.
Crop Progress data showed a total of 97% of the US cotton crop was setting bolls as of Sunday, with 40% of the crop with bolls opening. Harvest was tallied at 8% complete, 2 points ahead of normal. Texas was the only of the 15 states that reported any harvest progress, at 19%, 6% above the average pace. Cotton conditions were up 3% to 54% gd/ex, as the Brugler500 index rose 5 points to 349. By state, TX ratings were up 8 points, with GA down 5 points.
The Seam reported 1,368 bales sold on Monday at an average price of 62.83 cents/lb. The Cotlook A Index was down 20 points at 77.40 cents on September 8. ICE cotton stocks were steady on 9/8, with the certified stocks level at 15,474 bales. USDA’s Adjusted World Price (AWP) was down another 63 points on Thursday at 54.31 cents/lb.
Oct 25 Cotton is at 64.66, up 9 points,
Dec 25 Cotton is at 66.36, up 15 points,
Mar 26 Cotton is at 68.27, up 13 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.