Cotton futures fell another 50 to 75 points lower on Tuesday. Crude oil was up another 32 cents/barrel at $68.25, with the US dollar index $0.014 higher to $97.155.
Weekly Crop Progress data showed the US cotton crop at 48% squared, with 14% setting bolls, both 1% behind average. Condition ratings were up 1% to 52% gd/ex, with the Brugler500 index steady at 336. Ratings were steady in Texas, with GA improving 9 points.
The Cotlook A Index was unchanged on 7/7 at 79.15. ICE cotton stocks were down 2,335 bales on July 7 via decertification, with the certified stocks level at 37,989 bales. USDA’s Adjusted World Price (AWP) was up 116 points on Thursday afternoon at 55.34 cents/lb.
Jul 25 Cotton closed at 64.68, down 71 points,
Oct 25 Cotton closed at 66.08, down 71 points,
Dec 25 Cotton closed at 67.38, down 51 points
Source: barchart.com