**Cotton Futures Update: October 24, 2023**
Cotton futures are experiencing midday gains between 7 and 15 points on Tuesday, despite initial weakness. As of October 22, 81% of the U.S. cotton crop is squared, matching the average for this time of year, while 45% is setting bolls, also consistent with the five-year average. The crop’s condition is rated at 46% good/excellent, a week-over-week increase of 1 percentage point.
The Cotlook A Index decreased by 125 points to 89.10 cents on Monday. ICE certified cotton stocks dropped by 3,536 bales to 90,699 bales as of July 27. The Adjusted World Price fell by 155 points last week to 63.82 cents per pound, valid through Thursday. Current prices are as follows: October cotton at 79.47 cents, up 13 points; December at 80.98 cents, up 10 points; and March 2027 at 82.54 cents, up 7 points.
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