Cotton Gains Mostly Hold on Monday
Cotton futures rounded out the Monday session with contracts up 10 to 16 points in the front months. The thinly traded October contract was an exception, down 3 points. The US dollar index is back up $0.330 to $98.510, as crude oil futures were up 12 cents.
The weekly Crop Progress report from NASS showed a total of 93% of the US cotton crop squared by August 10, with 65% setting bolls, 6 points behind average. There was 8% of the crop with bolls opening vs. 10% on average. Conditions were down 2% at 53% gd/ex, with the Brugler500 index falling 7 points to 338.
The Cotlook A Index was down 25 points at 77.25 cents on August 8. ICE cotton stocks were steady on 8/8, with the certified stocks level at 18,242 bales. USDA’s Adjusted World Price (AWP) was down 13 points on Thursday afternoon at 54.39 cents/lb.
Oct 25 Cotton closed at 65.29, down 3 points,
Dec 25 Cotton closed at 66.76, up 16 points,
Mar 26 Cotton closed at 68.23, up 16 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.