Cotton futures experienced declines on Monday, with October contracts closing at 66.54 cents/lb, down 58 points, while December and March contracts fell to 68.1 and 69.46 cents/lb, down 58 and 52 points, respectively. In addition, crude oil futures dropped by 27 cents per barrel, and the US dollar index fell by $0.623 to $97.575.
As of July 20, the Weekly Crop Progress data reported that 75% of the US cotton crop was squaring and 33% had set bolls, matching average conditions. The overall crop condition ratings improved by 3% to 57% good/excellent, while the Brugler500 index increased 8 points to 347.
The Seam recorded sales of 58 bales at an average price of 68.35 cents/lb, and the Cotlook A Index rose by 0.20 to 79.50 on July 18. Certified ICE cotton stocks remained stable at 22,337 bales as of July 18, while USDA’s Adjusted World Price increased slightly to 54.72 cents/lb for the period ending this Thursday.
