Cotton Futures Show Gains Amid Mixed Crop Planting Progress

Cotton futures are trending upward, disregarding overnight declines. By midday Tuesday, contracts were up between 45 to 60 points. Meanwhile, crude oil prices remain stable, while the US dollar index has decreased by $0.128 to reach $100.160.

US Cotton Crop Planting Status

The National Agricultural Statistics Service (NASS) reports that the US cotton crop is 40% planted as of Sunday. This figure is slightly behind the five-year average of 43%. In Texas, planting is at 35%, three points lower than normal, while Georgia is 41% planted, lagging by four points.

Market Activity and Pricing

The Seam noted that 2,465 bales were sold on May 19 at an average price of 63.48 cents. Additionally, the Cotlook A Index decreased by 50 points on Monday, settling at 76.75. Meanwhile, ICE cotton stocks increased by 2,213 bales as of May 19, resulting in a total certified stocks level of 36,366 bales. The USDA’s Adjusted World Price (AWP) dropped by 91 points last Thursday, now at 53.90 cents per pound.

Cotton Contract Prices

Jul 25 Cotton: 66.24, up 60 points
Oct 25 Cotton: 68.80, up 48 points
Dec 25 Cotton: 68.89, up 55 points

On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned. All data presented in this article is for informational purposes. For more details, please refer to the Barchart Disclosure Policy
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