Cotton prices are experiencing losses, with October contracts falling by 131 points to 90.39 cents per pound, December contracts down 152 points to 91.62 cents, and March contracts decreasing 136 points to 93.78 cents as of midday today. The U.S. dollar index has risen by 0.275, and crude oil is currently priced at $3.81 per barrel.
As of Sunday, 89% of the U.S. cotton crop is setting bolls, and 29% has bolls opening. Crop condition ratings improved slightly, with 39% rated good/excellent, up 2 percentage points from the previous week. However, the Brugler500 index dropped 2 points to 302 amid an increase in poor/very poor ratings. Specifically, ratings in Texas decreased by 2 points to 260.
On August 31, The Seam reported sales of 75 bales at an average price of 85.63 cents per pound, while ICE certified cotton stocks remain stable at 63,178 bales. The Adjusted World Price was raised by 190 points to reach 71.52 cents per pound last week.
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