Cotton futures rallied on Tuesday, with contracts 145 to 159 points higher at the close. Crude oil was up another $1.76 per barrel, with the US dollar index up 0.254.
Monday afternoon’s Crop Progress showed 73% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 32% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 45% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 1 point to 332. Ratings in TX slipped 2 points, with GA steady.
The Cotlook A Index was down 75 points on 7/20 at 87.65 cents. ICE certified cotton stocks were down 1,038 on July 20, with the certified stocks level at 97,800 bales. The Adjusted World Price was raised by 3.52 cents last week to 65.37 cents/lb.
Oct 26 Cotton closed at 78.96, up 159 points,
Dec 26 Cotton closed at 80.42, up 150 points,
Mar 27 Cotton closed at 81.74, up 145 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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