Cotton price action is down 50 to 62 points so far on Wednesday. Futures closed with losses of 3 to 45 points across the board on Tuesday, slipping from the midday gains. Crude oil was down another $3.48 per barrel, with the US dollar index down 0.109.
Weekly Crop Progress data showed 81% of the US cotton crop squared as of Sunday, now steady with normal. The crop was also 45% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 46% good/excellent, up 1 percentage point on the week. The Brugler500 index was up 4 points to 336. Ratings in TX were up 10 points, with GA steady. Just LA, OK, TN, and VA were reported with deteriorating conditions.
The Cotlook A Index was down 125 points Monday at 89.10 cents. ICE certified cotton stocks were down 3,536 bales on July 27, with the certified stocks level at 90,699 bales. The Adjusted World Price was trimmed by 155 points last week to 63.82 cents/lb. It is good through Thursday.
Oct 26 Cotton  closed at 79.21, down 13 points, currently down 62 points
Dec 26 Cotton  closed at 80.53, down 35 points, currently down 50 points
Mar 27 Cotton  closed at 82.11, down 36 points, currently down 54 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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