Cotton futures experienced gains between 41 and 88 points on Tuesday. As of the latest data, the US dollar index fell by $0.056 to 98.520, while crude oil futures dropped by $1.00 per barrel.
In June, US cotton exports, excluding linters, totaled 1.008 million bales, reflecting a 22.03% increase year-over-year but a 20.02% decrease from May. As of August 3, 87% of the US cotton crop was squared, which is 2 points behind the average. The crop condition rating remained steady at 55% good/excellent, while Texas ratings fell by 8 points, and Georgia ratings rose by 8 points.
The Cotlook A Index on August 4 was down to 77.50 cents, with ICE cotton stocks maintaining at 21,617 bales. USDA’s Adjusted World Price decreased by 43 points to 54.52 cents per pound, valid through Thursday.
