Cotton futures dropped on Monday, with contracts declining by 46 to 55 points. As of Sunday, 65% of U.S. cotton was setting bolls, with 10% opening, while condition ratings for cotton dropped to 40% good/excellent, a decrease of 2 percentage points from the previous week. The Brugler500 index fell by 6 points to 319.
The Seam reported the sale of 246 bales on August 7 at an average price of 81.82 cents. ICE certified cotton stocks remained steady at 84,632 bales, and the Adjusted World Price was increased by 163 points last week to 66.29 cents per pound.
Closing prices for cotton on October 26 showed Oct 26 Cotton at 82.72 (-50 points), Dec 26 Cotton at 83.86 (-54 points), and Mar 27 Cotton at 85.72 (-46 points).
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