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Cotton Starting Tuesday Slightly HigherCotton prices are trading with slight 4 to 7 point gains on Tuesday AM. Futures were up 35 to 89 cents on Monday. The dollar index was up 391 points, with crude oil futures 28 cents/barrel higher to provide some outside support. Rains late last week and over the weekend have impacted a few cotton acres in the southeast, noted by the drop in condition ratings after the close. Weekly Crop Progress data from NASS showed 72% of the US cotton crop with bolls opening, 1% ahead of normal, with harvest listed at 20% complete. Cotton condition ratings fell 6% to 31% in gd/ex, as the Brugler500 index was down another 14 points to 281. The Seam reported just 47 online cash cotton bale sales on Friday, averaging 71.40 cents/lb. ICE cotton stocks were unchanged on September 27, leaving 265 bales of certified stocks. The Cotlook A Index was down 25 points on September 27 at 84.65 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb. Dec 24 Cotton closed at 73.61, up 89 points, currently up 4 points Mar 25 Cotton closed at 75.36, up 84 points, currently up 7 points May 25 Cotton closed at 76.52, up 91 points, currently up 6 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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