Cotton futures posted 170 to 180 point gains across most front month contracts. Crude oil was $2.91 per barrel, with the US dollar index $0.293 lower.
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%.
The Seam reported sales of 2987 bales on Friday at an average price of 82.62 cents/lb. The Cotlook A Index was up 300 points on August 28 at 101.30 cents. ICE certified cotton stocks were down 3,149 bales on 8/28, 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 91.7, up 178 points,
Dec 26 Cotton closed at 93.14, up 176 points,
Mar 27 Cotton closed at 95.14, up 180 points
