Cotton prices are showing another round of strength, with gains of 22 to 26 points. Futures were up 55 to 66 points across the front months on Tuesday. The US dollar index was down another 496 points and below $102, with crude oil losing 47 cents per barrel.
USDA’s Crop Progress report indicated US cotton condition ratings across the US were down 4% to 42% gd/ex, with the Brugler500 index down 4 points to 315. Texas ratings were down 2 points with GA losing 3 points on the week.
The Seam reported 3,727 bales of cotton sold in the online auction on Monday, with an average price of 61.99 cents/lb. ICE cotton stocks were unchanged on August 19, leaving 12,767 bales of cert stocks. The Cotlook A Index was unchanged on August 19 at 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 69.34, up 66 points, currently up 22 points
Mar 25 Cotton closed at 70.68, up 62 points, currently up 26 points
May 25 Cotton closed at 71.76, up 55 points, currently up 25 points
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