Cotton futures closed out the Monday session with contracts up 28 to 121 points. The outside markets are mixed, with crude oil back up $1.26/barrel and the US dollar index 498 points higher.
Crop Progress data showed the US cotton crop with 94% setting bolls, 3% ahead of the 5-year average pace. Harvest was 44% complete as of October 20, 6 percentage points ahead of normal. Condition ratings were up 3% to 37% good/excellent, but just 1 point higher at 295 on the Brugler500 index as there was a shift to very poor.
The Seam reported 540 bales of online sales on October 18 at an average price of 62.15 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 174 bales of certified stocks. The Cotlook A Index was down 45 points on October 18 at 82.35 cents/lb. The USDA Adjusted World Price (AWP) was trimmed by another 117 points on Thursday to 59.24 cents/lb.
Mar 25 Cotton closed at 74.12, up 103 points,
May 25 Cotton closed at 75.5, up 97 points,
Jul 25 Cotton closed at 76.44, up 97 points
