On Tuesday morning, cotton prices saw slight gains, with futures closing the previous session 26 to 32 points higher. The US dollar index rose by $0.298 to 98.010, while crude oil futures increased by $0.55.
As of August 10, 97% of the U.S. cotton crop had squared, with 73% setting bolls, trailing the average by 7 points; 13% of bolls were opening compared to 16% on average. Crop conditions improved to 55% good/excellent, and the Brugler500 index increased by 11 points to 349. The Seam reported that 401 bales sold in the Friday online auction at an average price of 57.93 cents per pound, with the Cotlook A Index holding steady at 79.40 cents on August 15.
Current futures prices include: October 25 Cotton at 66.42 cents (up 32 points), December 25 Cotton at 67.81 cents (up 27 points), and March 26 Cotton at 69.33 cents (up 26 points).
