Cotton futures experienced mixed trading on Monday, with July contracts closing at 73.39 cents per pound, down 36 points, while December contracts rose by 13 points to 77.61 cents. As of this past Sunday, the USDA reported that 77% of the U.S. cotton crop had been planted, meeting the average pace, with 13% of the crop squared—2% ahead of normal progression. Current condition ratings show 53% of the crop rated as good/excellent, up 4 percentage points from last year.
On June 5, The Seam reported sales of 1,311 bales at an average price of 74.00 cents per pound. The ICE certified cotton stocks increased by 11,219 bales to 261,648 bales, while the Adjusted World Price fell to 63.20 cents per pound. The U.S. dollar index declined by $0.101 to $99.95, and crude oil prices rose by 74 cents on the same day.
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