Cotton futures experienced a significant rally on Tuesday, with October contracts closing at 78.96 cents, up 159 points, and December contracts at 80.42 cents, up 150 points. Additionally, March contracts closed at 81.74 cents, up 145 points. The price increase coincided with a rise in crude oil prices, which climbed by $1.76 per barrel.
As of Sunday, the US cotton crop is progressing positively, with 73% squared—1% ahead of the normal pace—and 32% setting bolls, matching the 5-year average. The condition ratings improved slightly to 45% good/excellent, up 1 percentage point from the previous week. The Brugler500 index also saw a marginal increase to 332, though Texas ratings dipped by 2 points while Georgia remained steady.
On July 20, the Cotlook A Index fell 75 points to 87.65 cents, and certified cotton stocks decreased by 1,038 bales, bringing the total to 97,800 bales. The Adjusted World Price was raised by 3.52 cents to 65.37 cents per pound.
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