Cotton Starting Tuesday with Modest Gains

Cotton prices are up 20 to 28 points on Tuesday AM trade.  Futures were higher to start the week, with contracts closing 103 to 222 higher across the board. Crude oil was $1.81 per barrel lower on the session, with the US dollar index back up $0.178. 

The weekly Crop Progress report showed 74% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 23%, running 2 percentage points ahead of normal. Condition ratings were pegged at 33% good/excellent, down 2 percentage points on the week. The Brugler500 index was fell 4 points to at 290.

The Seam reported sales on 1,109 bales on Friday at an average of 74.16 cents/lb.The Cotlook A index was down 80 points on October 2 at 88.35. ICE certified cotton stocks were down 5,777 bales on 10/2, with the certified stocks level at 22,240 bales. The Adjusted World Price was down 93 points last week to 65.16 cents/lb. 

Oct 26 Cotton  closed at 77.13, up 198 points, currently unch

Dec 26 Cotton  closed at 80.86, up 198 points, currently up 25 points

Mar 27 Cotton  closed at 83.71, up 217 points, currently up 26 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.