Cotton Slipping Lower at Midday

Cotton - trisha-downing-pyud8ZaVq4I-unsplash

Cotton futures are down 45 to 67 points across the front months on Tuesday. The dollar index is adding some pressure, up 564 points. Crude oil futures are up $3.33/barrel at midday, on increased tensions out of the Middle East.  

Weekly Crop Progress data from NASS showed 72% of the US cotton crop with bolls opening, 1% ahead of normal, with harvest listed at 20% complete. Cotton condition ratings fell 6% to 31% in gd/ex, as the Brugler500 index was down another 14 points to 281. Harvest in GA was 6% complete, with 77% of the bolls open, imply some crop damage, as the Brugler500 index was down 51 points. NC ratings were down 48 points, with TN dropping 40, as TX slipped by 8 points.

The Seam reported just 794 online cash cotton bale sales on Monday, averaging 70.51 cents/lb. ICE cotton stocks were unchanged on September 30, leaving 265 bales of certified stocks. The Cotlook A Index was down 25 points on September 30 at 84.40 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb. 

Dec 24 Cotton  is at 72.94, down 67 points,

Mar 25 Cotton  is at 74.89, down 47 points,

May 25 Cotton  is at 76.07, down 45 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.