Cotton futures were under pressure on Monday with contracts closing 75 to 90 points in the red. The US dollar index was down $0.199 on the day to $97.625. Losses of $2.55 in the crude oil market from a potential Israeli/Hamas ceasefire added pressure.
The NASS Crop Progress report indicated a total of 67% of the US cotton crop with bolls opening and behind the 69% average, with harvest matching the average pace at 16%. Cotton conditions were listed at 47% good/excellent, steady with last week, as the Brugler500 index was up 2 points to 335.
