Cotton futures saw lower trade on Tuesday with contracts pulling off the lows into the close, still down 27 to 46 points in most contracts. Crude oil was down $3.90, with the US dollar index $0.089 lower.
Weekly Crop Progress data showed 81% of the US cotton setting bolls as of Sunday, with 20% of the crop with bolls opening. Condition ratings were pegged at 37% good/excellent, down 1 percentage points on the week. The Brugler500 index was down another 6 points to 304. Ratings in TX were down another 10 points to 262 points, with GA steady.
The Seam reported 689 bales sold on 8/24 at an average of 89 cents. The Cotlook A Index was unchanged on Monday at 98.20 cents. ICE certified cotton stocks were steady on August 24, with the certified stocks level at 68,894 bales. The Adjusted World Price was raised by 143 points last week to 69.62 cents/lb.
Oct 26 Cotton closed at 87.08, down 40 points,
Dec 26 Cotton closed at 88.34, down 49 points,
Mar 27 Cotton closed at 90.23, down 46 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.
/Alibaba%20by%20Photo%20Agency%20via%20Shutterstock.jpg)
/An%20Intel%20sign%20out%20front%20of%20a%20corporate%20office%20by%20wolterke%20via%20Adobe%20Stock.jpeg)