Cotton futures closed the Monday session with contracts 26 to 32 points higher. The US dollar index is up $0.298 to $98.010, as crude oil futures were back up another $0.55.
The weekly Crop Progress report from NASS showed a total of 97% of the US cotton crop squared by August 10, with 73% setting bolls, 7 points behind average. There was 13% of the crop with bolls opening vs. 16% on average. Conditions were back up 2% at 55% gd/ex, with the Brugler500 index shooting 11 points higher to 349.
The Seam reported 401 bales sold in the Friday online auction at an average price of 57.93 cents/lb. The Cotlook A Index was unchanged at 79.40 cents on August 15. ICE cotton stocks were steady on 8/15, with the certified stocks level at 17,017 bales. USDA’s Adjusted World Price (AWP) was back up 66 points on Thursday at 55.05 cents/lb.
Oct 25 Cotton closed at 66.42, up 32 points,
Dec 25 Cotton closed at 67.81, up 27 points,
Mar 26 Cotton closed at 69.33, up 26 points
Source: barchart.com