Cotton prices fell between 5 to 37 points across various contracts on Tuesday, while crude oil prices rose by $2.04 per barrel. The US dollar index increased by $0.623 to reach 98.185. As of June 15th, the US cotton crop is 85% planted, trailing the average pace by 5 points, with 19% squaring and 5% setting bolls, consistent with averages.
Condition ratings for the cotton crop dropped one point in the good to excellent categories to 48%. The Brugler500 index increased four points to 328, reflecting a smaller portion of the crop rated very poor. In Texas, ratings improved by 8 points, with Tennessee seeing a notable increase of 39 points.
The Cotlook A Index fell by 35 points as of June 13th to 77.80. Certified ICE cotton stocks remained stable at 62,212 bales, and the USDA’s Adjusted World Price (AWP) rose by 26 points to 54.02 cents per pound.
