Cotton futures saw an increase, with July 25 closing at 65.44 cents/lb (up 8 points), October 25 at 66.3 cents/lb (up 33 points), and December 25 at 68.02 cents/lb (up 18 points). As of June 15, the US cotton crop was 85% planted, trailing the average pace by 5 points. Additionally, 19% of the crop was categorized as squaring, exceeding the normal rate by 2%, while 5% had set bolls, matching averages. Condition ratings for the crop dropped 1% to 48% in the good to excellent categories.
The Seam reported 245 bales sold online at an average price of 58.29 cents/lb, while the Cotlook A Index fell to 77.80 cents/lb as of June 13. The USDA’s Adjusted World Price rose 26 points to 54.02 cents/lb, and ICE cotton stocks remained steady at 62,212 bales.
In other market movements, crude oil prices decreased by $1.54 per barrel, and the US dollar index fell by $0.396 to 97.780.
