Cotton posted Turnaround Tuesday losses of 115 to 169 points at the Tuesday close. Crude oil was $4.92 per barrel higher on the day, with the US dollar index up $0.235.
Weekly Crop Progress data showed 89% of the US cotton setting bolls as of Sunday, with 29% of the crop with bolls opening. Condition ratings were pegged at 39% good/excellent, up 2 percentage points on the week. The Brugler500 index was down another 2 points to 302 as poor/very poor ratings were up 3%. Ratings in Texas slipped another 2 points to 260.
The Seam reported sales of 75 bales on August 31 at an average price of 85.63 cents/lb. ICE certified cotton stocks were unchanged bales on Monday, with the certified stocks level at 63,178 bales. The Adjusted World Price was raised by another 190 points last week to 71.52 cents/lb.
Oct 26 Cotton closed at 90.01, down 169 points,
Dec 26 Cotton closed at 91.55, down 159 points,
Mar 27 Cotton closed at 93.68, down 146 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.
