Cotton futures were up 8 to 33 points higher. Crude oil was back down $1.54/barrel, as futures are giving some risk premium back as Iran there was light talk of negotiations. The US dollar index was back down $0.396 to $97.780.
The weekly Crop Progress report indicated that the US cotton crop was 85% planted as of June 15th, lagging the average pace by 5 points. Overall 19% of the crop was squaring, 2% ahead of normal, with5% already setting bolls, matching the average. Condition ratings saw a one point drop in the good to excellent categories, at 48%. The Brugler500 index was up four points to 328 on a smaller very poor part of the crop.
The Seam reported 245 bales of online sales at an average price of 58.29 cents/lb. The Cotlook A Index was down 25 points on 6/13 at 77.80. ICE cotton stocks steady on June 13, with a certified stocks level of 62,212 bales. USDA’s Adjusted World Price (AWP) was back up 26 points on Thursday afternoon at 54.02 cents/lb.
Jul 25 Cotton closed at 65.44, up 8 points,
Oct 25 Cotton closed at 66.3, up 33 points,
Dec 25 Cotton closed at 68.02, up 18 points
Source: barchart.com