Cotton futures fell another 50 to 75 points lower on Tuesday. Crude oil was up another 32 cents/barrel at $68.25, with the US dollar index $0.014 higher to $97.155.
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. Ratings were steady in Texas, with GA improving 9 points.
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 64.68, down 71 points,
Oct 25 Cotton closed at 66.08, down 71 points,
Dec 25 Cotton closed at 67.38, down 51 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
