Cotton futures fell between 15 to 50 points on Tuesday, influenced by external factors including a 51-cent decline in crude oil and a 137-point increase in the US dollar index. July 24 Cotton closed at 66.96 cents, down 36 points; Dec 24 Cotton at 70.55 cents, down 50 points; and Mar 25 Cotton at 72.41 cents, down 43 points.
According to the NASS Crop Progress report, as of July 8, 52% of the US cotton crop was squared—2% above the average—with 19% setting bolls, up 4% from normal. Cotton condition ratings fell 5% to 45% good/excellent, and the Brugler500 index decreased 11 points to 320. Additionally, ICE certified cotton stocks remained unchanged at 53,790 bales, while the Cotlook A Index decreased by 125 points to 81.50 cents/lb, and the USDA Average World Price was reduced by 43 points to 57.80 cents/lb, effective through Thursday.
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