Cotton futures increased by 66 to 114 points on Tuesday, with the May 26 contract closing at 78.26 cents per pound, the July 26 at 80.86 cents, and the December 26 at 81.79 cents. The US dollar index rose 0.278 to $98.185, and crude oil prices increased by $2.19, reaching $91.80.
As of April 19, the USDA’s NASS Crop Progress report indicated that 11% of the US cotton crop was planted, surpassing the 5-year average of 10%. Texas reported a planting pace of 16%, while Louisiana and Virginia lagged behind. The Seam reported only 64 bales sold on Monday at an average price of 65.98 cents per pound. Additionally, the Cotlook A Index rose by 175 points to 89.10 cents, with ICE certified cotton stocks unchanged at 164,967 bales as of April 20.
