Cotton Posts Mixed Trade on Tuesday

Cotton futures closed the Tuesday session with contracts 9 points lower to 6 points higher. Crude oil was up $1.05 per barrel on the session, with the US dollar index $0.375 lower.

The weekly Crop Progress report showed 82% of the US cotton crop with bolls opening as of Sunday. Harvest was tallied at 31%, running 2 percentage points ahead of normal. Condition ratings were pegged at 34% good/excellent, up 2 percentage points on the week. The Brugler500 index was back up 2 points to 292.

The Seam reported 836 bales sold on Monday, at an average of 77.22 cents/lb. The Cotlook A index was up 50 points on October 13 at 91.15. ICE certified cotton stocks were steady on 10/13, with the certified stocks level at 17,756 bales. The Adjusted World Price was down another 135 points last week to 63.81 cents/lb.

Dec 26 Cotton  closed at 80.51, down 9 points,

Mar 27 Cotton  closed at 83.83, up 2 points,

May 27 Cotton  closed at 85.48, unch

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.