The cotton market had buyers in old crop July, but bulls couldn’t get anything going in new crop December futures, giving back promising early gains to settle UNCH. Nearby July was by far the strongest, up 96 points. Fresh news was scarce.
Crop Progress data showed Texas planting pace 1% behind average at 62%, with GA 4% back of normal at 77%. Condition ratings saw several state conditions drop 5 points or more, with TX down 5 and GA 6 points lower.
ICE certified cotton stocks were up 1,039 bales on June 3 at 126,714 bales. The Cotlook A Index was down another 270 points on June 4 at 82.45 cents/lb. The USDA Average World Price (AWP) is 64.37 cents/lb and will be in effect until Thursday evening
Jul 24 Cotton closed at 74.44, up 96 points,
Dec 24 Cotton closed at 73.51, unch
Mar 25 Cotton closed at 75.29, up 8 points
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