Cotton Holding Gains on Tuesday’s Midday
Cotton futures are up 39 to 59 points so far across the front months on Tuesday. The dollar index is up 97 points so far on the day, with crude oil futures back down $3.15/barrel.
After the Monday close, NASS reported 45% of the US cotton crop with bolls opening, ahead of the 40% average, with 8% harvested, 2 percentage points above normal. Condition ratings dropped back 4% to 40% in the gd/ex categories, with the Brugler500 index down 9 points to 306.
The Seam ported 2,051 online cash cotton bale sales on Monday, average 58.46 cents/lb. ICE cotton stocks were unchanged on September 9, leaving 265 bales of cert stocks. The Cotlook A Index was down 140 points on September 9 at 79.40 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points from the week prior on Thursday to 57.27 cents/lb.
Dec 24 Cotton closed at 68.28, up 59 points,
Mar 25 Cotton closed at 69.92, up 46 points,
May 25 Cotton closed at 71.26, up 46 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.