Front month futures were 105 to 11 points stronger on Monday. December futures faded the early session gains and ended 56 points under the day session high.
USDA’s weekly Crop Progress report had 92% of the cotton crop squaring as of 8/6. That is 1% point behind average. The report showed 63% was setting bolls matching the average. NASS found that 8% of bolls were opening as of 8/6 which is 1ppt behind the average pace. The Brugler500 Index showed conditions were 3 points lower to 300 flat – reflecting worse conditions in Louisianna, Oklahoma, and Texas.
The Cotlook A Index was unchanged at 95.6 cents/lb for 8/4. The AWP for cotton increased by 45 points to 70.19 cents/lb. ICE Certified Stocks were reported at 560 bales for 8/3.
Dec 23 Cotton closed at 85.34, up 105 points,
Mar 24 Cotton closed at 85.45, up 105 points,
May 24 Cotton closed at 85.59, up 109 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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