Cotton futures are posted higher trade to close out Monday, with contracts up 16 to 68 points across the board. Crude oil was $2.55 higher, with the US dollar index $0.094 lower.
Weekly Crop Progress data showed 74% of the US cotton setting bolls as of Sunday, with 14% of the crop with bolls opening. Condition ratings were pegged at 38% good/excellent, down 2 percentage points on the week. The Brugler500 index was down another 9 points to 310.
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The Cotlook A Index was down 90 points on Friday at 94.05 cents. ICE certified cotton stocks were down 3,359 bales on August 14, with the certified stocks level at 72,626 bales. The Seam reported just 74 bales sold on the 8/14 auction at an average price of 71 cents. The Adjusted World Price was raised by 190 points on Thursday to 68.19 cents/lb.
Oct 26 Cotton closed at 84.07, up 47 points,
Dec 26 Cotton closed at 85.48, up 68 points,
Mar 27 Cotton closed at 87.28, up 60 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.
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