Cotton futures posted mixed trade on the Tuesday session, with contracts down 35 points to as much as 25 points higher at the close. Crude oil was up $0.6477 with the US dollar index $0.011 higher.
Crop Progress data from Monday showed condition ratings were pegged at 38% good/excellent, down 2 percentage points on the week. The Brugler500 index was down another 9 points to 310. Deterioration was noted in TX (-11), KS (-24), OK (-20), AR/GA/LA/MO/VA (-2), as well as AL, AZ and TN. Just NC and MS saw improvement.
The Seam reported 892 bales sold in Monday’s auction at an average price of 75.15 cents. The Cotlook A Index was up 120 points on August 17 at 94.05 cents. ICE certified cotton stocks were steady on 8/14, with the certified stocks level at 72,626 bales. The Adjusted World Price was raised by 190 points last week to 68.19 cents/lb.
Oct 26 Cotton closed at 84.12, up 5 points,
Dec 26 Cotton closed at 85.41, down 7 points,
Mar 27 Cotton closed at 87.21, down 7 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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