Cotton futures rose 39 to 59 points on Tuesday, September 12, 2023, with December 2024 cotton closing at 68.28 cents per pound, up 59 points. Crude oil futures fell by $3.15 per barrel, and the dollar index increased by 97 points.
According to the National Agricultural Statistics Service (NASS), 45% of the U.S. cotton crop has bolls opening as of September 11, 2023, surpassing the 40% average. The harvest is ahead of schedule at 8%, 2 percentage points above normal, but condition ratings dropped 4% to 40% in good/excellent categories.
The Seam reported 2,051 online cash cotton bale sales on Monday at an average price of 58.46 cents per pound. As of September 9, ICE cotton stocks remained unchanged at 265 certified bales. The USDA Adjusted World Price (AWP) increased by 29 points to 57.27 cents per pound.
