Cotton futures saw a decrease of 35 to 40 points on Tuesday, while October contracts rose 88 points, reaching 84.95 cents. Weekly Crop Progress data revealed that 74% of the U.S. cotton crop is currently setting bolls, with 14% of bolls opened as of Sunday. However, the crop condition rating dropped to 38% good/excellent, down 2 percentage points from the previous week, with notable declines in Texas, Kansas, Oklahoma, and others.
In the auction on Monday, the Seam reported the sale of 892 bales at an average price of 75.15 cents. The Cotlook A Index increased 120 points on August 17, reaching 94.05 cents, while ICE certified cotton stocks remained steady at 72,626 bales. Additionally, the Adjusted World Price rose by 190 points last week to 68.19 cents per pound.
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