Cotton Falling Back on Tuesday AM Trade

Cotton price action is down 37 to 45 points in early Tuesday trade. Futures posted mixed Monday trade, with front months down 1 to 33 points and other contracts up 9 to 33 points. Crude oil was down $4.45 per barrel on the session, with the US dollar index $0.639 lower.

USDA’s weekly Crop Progress report showed 94% of the US cotton crop with bolls open, behind the 98% 5-year average pace. Harvest was at 71%, well above the 63% average pace.

The Seam reported 6,296 bales sold on Friday, at an average of 79.63 cents/lb. The Cotlook A index was up 50 points on November 6 at 90.40. ICE certified cotton stocks were up 8,551 bales on 11/6, with the certified stocks level at 75,725 bales. The Adjusted World Price was down 94 points on last week to 63.57 cents/lb. 

Dec 26 Cotton  closed at 78.78, down 33 points, currently down 45 points

Mar 27 Cotton  closed at 82.6, down 19 points, currently down 37 points

May 27 Cotton  closed at 84.15, down 20 points, currently down 45 points