Cotton futures have increased by 55 to 70 points as of midday, with July futures at 77.34 cents (up 70 points), December futures at 80.72 cents (up 56 points), and March futures at 81.87 cents (up 55 points). The US dollar index rose to $99.205, while crude oil prices climbed to $93.02, an increase of $1.13.
As of May 31, 66% of the US cotton crop has been planted, which is 1% below the typical pace, while 7% is squared, matching the average. The Seam reported sales of 882 bales on Monday at an average of 75.79 cents per pound. ICE certified cotton stocks increased by 4,998 bales to a total of 242,911 bales as of June 1, and the Adjusted World Price fell by 519 points last week to 63.49 cents per pound.
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