Cotton futures are trading with Tuesday gains of 108 to 146 points at midday. Crude oil is down $5.22 at $75.53. The US dollar index is down $0.136 at $99.240.
Monday afternoon’s Crop Progress showed 86% of the US cotton crop planted as of Sunday, 2% behind the average pace, with 19% squared, 2% ahead of normal. Condition ratings were pegged at 51% good/excellent, down 2 percentage points on the week. The Brugler500 index was up 1 to 346 as 3% shifted from very poor to fair.
West TX and the panhandle are looking at a drier pattern in the next week with the eastern half of the state through GA seeing heavy rainfall totals of up to double digits in some areas of the Gulf.
The Seam reported just 396 bales sold on June 15 at an average price of 68 cents. The Cotlook A Index was up 30 points on 6/15 at 85.05 cents. ICE certified cotton stocks were unchanged on Monday with the certified stocks level at 192,699 bales. The Adjusted World Price was down another 194 points last week at 61.26 cents/lb.
Jul 26 Cotton is at 74.89, up 146 points,
Dec 26 Cotton is at 77.87, up 106 points,
Mar 27 Cotton is at 79.2, up 108 points
