Cotton futures are falling another 60 to 77 points lower on Tuesday. Crude oil is up another 79 cents/barrel at $68.72, with the US dollar index $0.144 higher to $97.285.
Weekly Crop Progress data showed the US cotton crop at 48% squared, with 14% setting bolls, both 1% behind average. Condition ratings were up 1% to 52% gd/ex, with the Brugler500 index steady at 336.
Commitment of Traders data showed a 5,175 contract reduction to the net short in cotton futures and options during the week ending on July 1, taking it to 42,910 contracts.
The Cotlook A Index was unchanged on 7/7 at 79.15. ICE cotton stocks were down 2,335 bales on July 7 via decertification, with the certified stocks level at 37,989 bales. USDA’s Adjusted World Price (AWP) was up 116 points on Thursday afternoon at 55.34 cents/lb.
Jul 25 Cotton closed at 65.39, down 27 points,
Oct 25 Cotton closed at 66.02, down 77 points,
Dec 25 Cotton closed at 67.29, down 60 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. This article was originally published on Barchart.com
