Cotton prices are down 50 to 64 points so far on Tuesday morning. Futures were mixed to start the week, with contracts down 9 to 10 points higher. Crude oil was up $6.54 on the day following increased tensions with the US and Iran. The US dollar index was up $0.325.
Monday afternoon’s Crop Progress showed 60% of the US cotton crop squared as of Sunday, 1% ahead of normal. The crop was also 22% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 44% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 1 points to 331.
