Cotton futures are trading with losses of 52 to 76 points to kick off Wednesday. They posted losses of 9 to 28 points on Tuesday. The dollar index added some support, with losses of 276 points, though crude oil futures are down $1.61/barrel to help via the synthetic market.
The US cotton condition ratings were falling again, by 2% to 40% good/excellent this week according to Crop Progress data. The Brugler500 index fell 9 points to 306, the lowest so far during the growing season. Texas was a major reason, down 16 points, with the Georgia crop down 2 points.
The Seam reported online cash sales of just 334 bales at an average price of 62.96 cents on Monday. ICE cotton stocks down 9,147 bales on August 26 via decertification, leaving just 266 bales of cert stocks. The Cotlook A Index was down 90 points on August 23 at 80.75 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 69.98, down 28 points, currently down 66 points
Mar 25 Cotton closed at 71.58, down 21 points, currently down 66 points
May 25 Cotton closed at 72.77, down 19 points, currently down 76 points
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