Cotton futures were 100 to 144 points higher on Monday. The US dollar index was down another 587 points and below $102, with crude oil losing $2.31 per barrel.
USDA’s Crop Progress report indicated the US cotton crop was 84% setting bolls, 3% above normal and 19% of the bolls opening, 2% faster than average. Cotton condition ratings across the US were down 4% to 42% gd/ex, with the Brugler500 index down 4 points to 315.
ICE cotton stocks were down another 2,759 bales on August 16 on decertification, leaving 12,767 bales of cert stocks. The Cotlook A Index was back up 15 points on August 16 to 78.60 cents/lb. The USDA Average World Price (AWP) is 55.35 cents/lb for the next week through Thursday, up 11 points on the week.
Dec 24 Cotton closed at 68.68, up 144 points,
Mar 25 Cotton closed at 70.06, up 132 points,
May 25 Cotton closed at 71.21, up 122 points
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