Cotton futures are up 138 to 245 points so far on Tuesday. The outside markets are mixed, as Crude oil is up $1.87, with the US dollar index up $0.155.
Monday afternoon’s Crop Progress showed 49% of the US cotton crop squared as of Sunday, 2% ahead of normal. The crop was also 14% setting bolls, matching the 5-year average pace. Condition ratings were pegged at 46% good/excellent, down 2 percentage points on the week. The Brugler500 index was down 3 points to 332. Ratings in TX were down 2 points, with GA up 3.
Managed money was trimming back their net long position in cotton futures and options as of June 30 by 6,460 contracts, taking it to 31,985 contracts.
The Seam reported 182 bales sold on 7/6 at an average of 69.54 cents. The Cotlook A Index was steady on Monday at 85.80 cents. ICE certified cotton stocks were unchanged on July 6 with the certified stocks level at 185,034 bales. The Adjusted World Price was back down 194 points last week at 61.94 cents/lb.
Jul 26 Cotton is at 73.95, up 138 points,
Dec 26 Cotton is at 80.75, up 245 points,
Mar 27 Cotton is at 82.17, up 245 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
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