Cotton prices are down 40 to 49 points so far on Tuesday morning. Futures ended the Monday session with weakness, as contracts were down 42 to 65 points. The dollar index is providing some pressure, with gains of 169 points, though crude oil futures are up $2.41/barrel to help via the synthetic market.
The US cotton crop was tallied at 89% setting bolls, with 35% of the bolls opening, both slightly ahead of normal. Condition ratings were falling again, by 2% to 40% good/excellent this week. The Brugler500 index fell 9 points to 306, the lowest so far during the growing season.
The Seam reported online cash sales of 1,345 bales at an average price of 67 cents on Friday. ICE cotton stocks were unchanged on August 23, leaving 9,413 bales of cert stocks. The Cotlook A Index was down 90 points on August 23 at 80.65 cents/lb. The USDA Average World Price (AWP) is 55.90 cents/lb for the next week through Thursday, up 55 points from the week prior.
Dec 24 Cotton closed at 70.26, down 65 points, currently down 49 points
Mar 25 Cotton closed at 71.79, down 49 points, currently down 43 points
May 25 Cotton closed at 72.96, down 42 points currently down 40 points
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