Cotton traded mostly in the red on Tuesday, finishing the session near the lows. Prices ended down by 65 to 145 points. Dec saw a 177 point range on the day, and closed just 5 points off the low.
NASS reported 96% of the cotton crop was squaring, 72% setting bolls, and 13% of bolls opening as of 8/13. Condition ratings were lower on the week, with a 20 point drop to 280 for the Brugler500 Index. Oklahoma fell the most on a 56 point drop to 239. Texas, which was down 23 points, maintained the worst score of the 15 reported states at 220.
The Cotlook A Index was shown at 96.7 cents/lb for 8/11, up by 80 points. USDA’s weekly Cotton Market Review had 3,956 bales sold at an average gross price of 80.96 cents/lb. The updated AWP for cotton is 70.25 cents/lb, from 70.19c last week. ICE Certified Stocks for 8/9 were 380 bales.
Dec 23 Cotton closed at 85.1, down 137 points,
Mar 24 Cotton closed at 85.01, down 130 points,
May 24 Cotton closed at 85.01, down 120 points
Source: barchart.com