Cotton futures have fallen between 145 and 168 points by midday Tuesday, influenced by a drop in crude oil prices, which are down $4.86 to $86.44 per barrel. The US dollar index has also decreased by $0.089 to $99.935.
As of Sunday, the US cotton crop is reported to be 77% planted, aligning with the average pace, with 13% squared, which is 2% ahead of normal. Initial condition ratings stand at 53% good/excellent, a 4 percentage point increase from last year, while the Brugler500 index reflects a condition rating of 345, up 21 points from last season.
On June 8, The Seam reported sales of 1,311 bales at an average price of 74.00 cents per pound. ICE certified cotton stocks have decreased by 4,137 bales to a total of 261,648 bales. The Adjusted World Price has also dropped by 29 points to 63.20 cents per pound. Current cotton prices include July at 71.71 (down 168 points), December at 76.14 (down 147 points), and March at 77.39 (down 148 points).
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