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As of Wednesday morning, cotton prices have risen between 36 and 61 points, following a Tuesday session where futures ended up 8 to 25 points higher. The US dollar index increased by $0.323 to $97.735, while crude oil futures rose by $0.51.
According to Crop Progress data, 97% of the US cotton crop is currently setting bolls, with 40% of that crop’s bolls already opening. The harvest is 8% complete, which is 2 points ahead of the average, with Texas reporting a 19% harvest progress, 6% above the average pace. Overall cotton conditions improved by 3%, bringing the good/excellent rating to 54%.
On September 8, the Cotlook A Index decreased by 20 points to 77.40 cents, while USDA’s Adjusted World Price fell by 63 points to 54.31 cents per pound. Recent futures prices include Oct 25 Cotton at 64.65 cents (up 8 points), Dec 25 Cotton at 66.46 cents (up 25 points), and Mar 26 Cotton at 68.37 cents (up 23 points).
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