Cotton worked lower on Tuesday, but firmed up for the settle. Prices were still 14 to 33 points in the red at the close, though December futures ended 80 points off their session low.
Crop Progress data had 92% of the cotton crop squaring, 63% setting bolls, with 8% of bolls opening as of 8/6. Cotton condition ratings on the Brugler500 Index were 3 points lower for the week to 300 flat – the equivalent of 100% “Fair”.
The Cotlook A Index for 8/7 was 55 points weaker to 95.05 cents/lb. The AWP for cotton is 70.19 cents/lb. ICE Certified Stocks were reported at 560 bales for 8/3.
Dec 23 Cotton closed at 85.2, down 14 points,
Mar 24 Cotton closed at 85.27, down 18 points,
May 24 Cotton closed at 85.41, down 18 points
Source: barchart.com