Cotton Posts Gains on Monday
Cotton futures closed out the Monday session with contracts posting 28 to 69 point gains. Crude oil was down $1.59/barrel at $66.86, with the US dollar index $0.256 higher to $97.785.
Weekly Crop Progress data showed a total of 61% of the US cotton crop squaring, with 23% setting bolls. Condition ratings were up 2% to 54% gd/ex, as the Brugler500 index was up 3 points to 339.
The Seam showed a total of 538 bales on online sales on Friday at 62 cents/lb. The Cotlook A Index was down 15 points on 7/10 at 78.45. ICE cotton stocks were down 824 bales on July 11 via decertification, with the certified stocks level at 34,509 bales. USDA’s Adjusted World Price (AWP) was back down 63 points on Thursday afternoon at 54.71 cents/lb.
Oct 25 Cotton closed at 66.48, up 28 points,
Dec 25 Cotton closed at 68.11, up 69 points,
Mar 26 Cotton closed at 69.4, up 65 points
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.