Cotton prices were down 17 to 47 points across most contracts on Tuesday. Crude oil was back up $3.70/barrel, as futures were adding risk premium back with President Trumps mulling US involvement in the Iran/Israel conflict. The US dollar index was back up $0.853 to $98.405.
The weekly Crop Progress report indicated condition ratings with a one point drop in the good to excellent categories, at 48%. The Brugler500 index was up four points to 328 on a smaller very poor part of the crop. Ratings in TX were up 8 points, with GA listed as steady. Other notable states were TN (+39), NC (+22), and MS (+11).
The Cotlook A Index was down 35 points on 6/13 at 77.80. ICE cotton stocks steady on June 16, with a certified stocks level of 62,212 bales. USDA’s Adjusted World Price (AWP) was back up 26 points last Thursday afternoon at 54.02 cents/lb.
Jul 25 Cotton closed at 65.05, down 39 points,
Oct 25 Cotton closed at 66.13, down 17 points,
Dec 25 Cotton closed at 67.55, down 47 points
