Front month cotton futures are rallying on the lower conditions data from NASS yesterday, and given a boost by a weak Dollar Index. December is up 275 points and at the high for the day.Â
The weekly NASS Crop Progress report had cotton 55% squaring as of 7/9, up from 42% last week and matching the average pace. NASS also showed 17% of the national crop was setting bools, trailing the average pace by 1 ppt. Cotton conditions converted to a 321 on the Brugler500 Index, which was 6 points worse week/week. Tennessee cotton improved by 24 points, while TX, AR, KS, and SC crops all dropped double digits on the index.Â
The Cotlook A Index was back up by 50 points to 91.35 for 7/10. USDA’s weekly cotton market review showed the 6,034 bales sold during the week averaged 72.69 cents. The AWP is 65.50 cents/lb.Â
Dec 23 Cotton  is at 81.92, up 267 points,
Mar 24 Cotton  is at 81.75, up 236 points,
May 24 Cotton  is at 81.8, up 219 points
On the date of publication, Alan Brugler 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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