Cotton futures had some outside market support on Tuesday, with contracts up 30 to 50 points. Crude oil prices were up 12 cents, with the US dollar index down another $0.413 to $99.875.
NASS pegged the US cotton crop at 40% planted as of Sunday, slightly behind the 5-year average at 43%. The crop was listed at 35% planted in TX, 3 points back of normal, with GA lagging by 4 at 41% planted.
The Seam reported 2,465 bales sold on 5/19 at an average price of 63.48 cents. The Cotlook A Index was down 50 points on Monday at 76.75. ICE cotton stocks were up 2,213 bales via new certifications on May 19, with a certified stocks level of 36,366 bales. USDA’s Adjusted World Price (AWP) was back down 91 points last Thursday to 53.90 cents/lb.
Jul 25 Cotton closed at 66.12, up 48 points,
Oct 25 Cotton closed at 68.62, up 30 points,
Dec 25 Cotton closed at 68.74, up 40 points
Source: barchart.com