Cotton prices are posting 61 to 68 point gains on Tuesday morning. Futures saw mixed action Monday, with contracts down 20 points to 11 points higher. The dollar index was up 217 points, with crude oil futures 25 cents/barrel lower. Rains expected in the Southeast from tropical storm John over the next week may put a halt to some cotton harvest.
The US cotton crop was listed at 63% with bolls open, as harvest progressed to 14% complete as of 9/22, 2% above normal according to NASS. Condition ratings slipped 2% to 37% gd/ex, as the Brugler500 index was down a sharp 13 points to 295, with a 7% increase to poor/very poor ratings at 33%.
The Seam reported 1,333 online cash cotton bale sales on Friday, averaging 69.43 cents/lb. ICE cotton stocks were unchanged on September 20, leaving 265 bales of cert stocks. The Cotlook A Index was back up 175 points on September 20 at 84.55 cents/lb. The USDA Adjusted World Price (AWP) was raised by 283 points last Thursday to 58.83 cents/lb. That is good through this Thursday.
Dec 24 Cotton closed at 73.44, down 8 points, currently up 65 points
Mar 25 Cotton closed at 75.19, up 5 points, currently up 68 points
May 25 Cotton closed at 76.26, up 10 points, currently up 65 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.
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