Cotton futures increased on Monday, with contracts rising 11 to 39 points. The October 25 cotton closed at 67.4 (up 39 points), December 25 at 68.34 (up 11 points), and March 26 at 69.76 (up 11 points). Concurrently, crude oil futures rose by $1.79 per barrel, and the US dollar index was up to 98.295, an increase of $0.996.
As of July 27, 80% of the US cotton crop was squaring, and 44% was setting bolls, according to Weekly Crop Progress data. Condition ratings decreased by 2% to 55% good/excellent, while the Brugler500 index fell by 2 points to 345.
On July 25, the Cotlook A Index increased by 50 points to 79.20 cents, and USDA’s Adjusted World Price (AWP) rose by 23 points to 54.95 cents per pound, valid through this Thursday. ICE cotton stocks remained steady at 21,617 bales.
