Cotton Weakness Continues on Wednesday Morning

Austin Schroeder Barchart Wed Jul 30, 7:42AM CDT
Cotton field with closeup by Trisha Downing via Unsplash

Cotton price action is down 45 to 49 points across most contracts early on Wednesday. Futures rounded out the Tuesday session under pressure, with contracts down 67 to 110 points. Pressure came from a $0.295 gain in the US dollar index to $98.690. Crude oil futures were $2.57/barrel higher. 

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. TX ratings were steady at 334, with GA slipping 3 points. 

The Seam showed sales of 1,489 bales on Monday, with an average price of 61.20 cents/lb. The Cotlook A Index was down 50 points at 78.70 cents on July 28. ICE cotton stocks were steady on 7/28, with the certified stocks level at 21,617 bales. USDA’s Adjusted World Price (AWP) was up 23 points last week at 54.95 cents/lb. It is good through this Thursday.

Oct 25 Cotton  closed at 66.3, down 110 points, currently down 5 points

Dec 25 Cotton  closed at 67.67, down 67 points, currently down 46 points

Mar 26 Cotton  closed at 69.05, down 71 points, currently down 48 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.