Cotton futures closed out the Monday session with contracts up 11 to 39 points. Crude oil futures were $1.79/barrel higher. The US dollar index was rallying, up $0.996 to $98.295.
Weekly Crop Progress data indicated 80% of the US cotton crop was squaring as of July 27, with 44% setting bolls. Condition ratings were back down 2% to 55% gd/ex, with the Brugler500 index down 2 points to 345.
The Seam showed sales of 125 bales on Friday, with an average price of 57 cents/lb. The Cotlook A Index was up 50 points at 79.20 cents on July 25. ICE cotton stocks were steady on 7/25, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points last Thursday at 54.95 cents/lb. It is good through this Thursday.
Oct 25 Cotton closed at 67.4, up 39 points,
Dec 25 Cotton closed at 68.34, up 11 points,
Mar 26 Cotton closed at 69.76, up 11 points