Cotton Back to Weakness on Tuesday, Despite USDA Shows Drop in Ratings

Austin Schroeder Barchart Tue Jul 29, 7:32AM CDT
Rolls of cotton fabric by hanohiki via iStock

Cotton prices are down 35 to 39 points early on Tuesday. Futures closed out the Monday session with contracts up 11 to 39 points. Crude oil futures were $1.79/barrel higher. The US dollar index was rallying, up $0.996 to $98.295.

Weekly Crop Progress data indicated 80% of the US cotton crop was squaring as of July 27, with 44% setting bolls. Condition ratings were back down 2% to 55% gd/ex, with the Brugler500 index down 2 points to 345.

The Seam showed sales of 125 bales on Friday, with an average price of 57 cents/lb. The Cotlook A Index was up 50 points at 79.20 cents on July 25. ICE cotton stocks were steady on 7/25, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points last Thursday at 54.95 cents/lb. It is good through this Thursday.

Oct 25 Cotton  closed at 67.4, up 39 points, currently down 39 points

Dec 25 Cotton  closed at 68.34, up 11 points, currently down 35 points

Mar 26 Cotton  closed at 69.76, up 11 points, currently down 35 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.