Cotton futures closed the Monday session with bulls battling back, as futures were up 14 to 29 points. The US dollar index was back down $0.410 to $98.520, as crude oil futures were another $1.09/barrel lower. OPEC+ announced another production hike of 547,000 barrels per day in September.
The weekly Crop Progress report from NASS showed a total of 87% of the US cotton crop squared by August 3, 2 points back of normal. There were also 55% setting bolls, 3 points behind average, with 5% of the crop bolls opening. Conditions were unchanged at 55% gd/ex, with the Brugler500 index steady at 345 despite some shifting.
The Seam showed sales of 84 bales on Thursday, with an average price of 60.45 cents/lb. The Cotlook A Index was down 40 points at 78.50 cents on August 1. ICE cotton stocks were steady on 8/1, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was back down 43 points on Thursday afternoon at 54.52 cents/lb.
Oct 25 Cotton closed at 64.56, up 14 points,
Πηγή: barchart.com