Cotton futures strengthened on August 11, with contracts increasing between 8 and 48 points, except for December, which saw a slight decline. The USDA’s Crop Production report indicated a decrease of 90,000 bales in cotton production, totaling 13.61 million bales, while acreage increased by 0.62 million acres to 10.47 million. Yield estimates were lowered by 74 lbs/ac to 798 lbs. Old crop stocks remained steady at 4.2 million bales, and new crop stocks dropped by 100,000 bales to 4 million.
In related market activity, The Seam reported 517 bales sold at an average price of 75.24 cents, with the Cotlook A Index falling by 50 points to 94.45 cents. ICE certified cotton stocks decreased by 1,772 bales to 80,714 bales. The Adjusted World Price rose by 163 points to 66.29 cents per pound. The closing prices for October, December, and March cotton were 83.21, 84.38, and 86.32 cents, respectively.
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