Cotton price action is 14 to 26 points gains on Wednesday morning. Futures ended Tuesday on a weaker noted despite a midday bounce, with contracts down 23 to 74 points on the session. Crude oil was up $1.69 on the day with the US dollar index was up $0.325.
Monday afternoon’s Crop Progress showed 60% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 22% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 44% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 1 points to 331. Crop ratings in TX were down 7 points on the week, with GA ratings improving 2 points.
The Cotlook A Index was unchanged on July 13 at 90.70 cents. ICE certified cotton stocks were down 5,842 bales on 7/13 via decertification, with the certified stocks level at 121,258 bales. The Adjusted World Price was back up 92 points last week to 62.86 cents/lb.
Oct 26 Cotton closed at 79.6, down 23 points, currently up 26 points
Dec 26 Cotton closed at 80.87, down 64 points, currently up 16 points
Mar 27 Cotton closed at 82.23, down 70 points, currently up 17 points
