Cotton futures increased by 26 to 32 points on Monday, with the October contract closing at 66.42 cents/lb, December at 67.81 cents/lb, and March at 69.33 cents/lb. The US dollar index rose by $0.298 to 98.010, while crude oil futures jumped $0.55.
According to the weekly Crop Progress report from NASS, as of August 10, 97% of the US cotton crop had squared, and 73% had set bolls, which is 7 points behind the average. Currently, 13% of the crop shows opened bolls compared to a 16% average. Cotton conditions improved to 55% good/excellent, with the Brugler500 index increasing by 11 points to 349.
In the latest online auction, The Seam reported 401 bales sold at an average price of 57.93 cents/lb. The Cotlook A Index remained steady at 79.40 cents on August 15, while USDA’s Adjusted World Price increased by 66 points to 55.05 cents/lb.
