Cotton Stocks Near Unchanged on Tuesday
Cotton futures saw steadier trade on Tuesday, with the front month and thin contracts unchanged and December down 10 points. Crude oil was up $0.45/barrel, with the US dollar index $0.193 lower.
Weekly Crop Progress data showed 95% of the US cotton crop planted (98% on average), with 40% squaring (3 points ahead of normal and 9% setting bolls. Condition ratings improved 4% to 51% gd/ex, with the Brugler500 index up 9 points to 336. Ratings in TX were up 10 points, with GA improving by 3.
The Seam reported 1,885 bales sold in the Monday online auction at an average price of 59.68 cents. The Cotlook A Index was up 50 another points on 6/30 at 80.15. ICE cotton stocks were down 4,427 on June 30 via decertification, with a certified stocks level of 40,683 bales. USDA’s Adjusted World Price (AWP) was up 15 points last Thursday at 54.18 cents/lb. It will be updated tomorrow.
Jul 25 Cotton closed at 66.28, unch
Oct 25 Cotton closed at 67.68, unch
Dec 25 Cotton closed at 68.03, down 10 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.