Cotton futures posted losses of 143 to 231 across most contracts on Tuesday. The outside factors are pressure, with crude oil down $2.60 to $88.70/barrels. The US dollar index is down $0.049 at $99.975.
Monday afternoon’s Crop Progress showed 77% of the US cotton crop planted as of Sunday, matching the average pace, with 13% squared, 2% ahead of normal. Initial condition ratings were pegged at 53% good/excellent, which was up 4 percentage points from last year. Condition ratings on the Brugler500 index were 345, 21 points higher than the initial ratings last year.
