Cotton futures posted gains of 38 to 73 points in most contracts on Tuesday. The US dollar index was up $0.023 at $99.170. Crude Oil was $1.23 higher to $93.39
The weekly NASS Crop Progress report showed 66% of the US cotton crop planted as of 5/31, 1% below normal. The crop was also 7% squared, matching the average pace.
The Seam reported sales on 882 bales on Monday at an average of 75.79 cents/lb. The Cotlook A Index was up 60 points on 6/1 at 86.25 cents. ICE certified cotton stocks were up 4,998 on June 1 with the certified stocks level at 242,911 bales. The Adjusted World Price was down another 519 points last week at 63.49 cents/lb.
Jul 26 Cotton closed at 77.04, up 40 points,
Dec 26 Cotton closed at 80.54, up 38 points,
Mar 27 Cotton closed at 81.72, up 40 points
Source: barchart.com