Cotton Falling the 4 Cent Limit on Tuesday

Cotton futures are falling lower, with contracts down 370 to the 400 point limit on Tuesday. Crude oil is down $2.12 per barrel on the session, with the US dollar index $0.389 higher. 

Weekly Crop Progress data showed 70% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 17%, running 2 percentage points ahead of normal. Condition ratings were pegged at 35% good/excellent, up 1 percentage point on the week. The Brugler500 index was down 1 point at 294.

The Seam reported sales of just 2,657 bales on September 28 at an average of 83.90 cents/lb. The Cotlook A index was back down 50 points on 9/28 at 93.25. ICE certified cotton stocks were unchanged on Monday, with the certified stocks level at 28,064 bales. The Adjusted World Price was down 283 points last week to 66.09 cents/lb.

Oct 26 Cotton  is at 79.06, up 15 points,

Dec 26 Cotton  is at 78.86, down 400 points,

Mar 27 Cotton  is at 81.75, down 400 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.