Cotton futures rose by 9 to 37 points across most contracts on Monday, with Oct 26 closing at 77.37, Dec 26 at 78.92, and Mar 27 at 80.29. Crude oil prices increased by 65 cents per barrel and the US dollar index gained 0.209.
As of Sunday, 73% of the US cotton crop was reported as squared, which is 1% above the normal pace. Additionally, 32% of the crop is now setting bolls, matching the 5-year average. The crop’s condition ratings improved, with 45% assessed as good/excellent, a 1 percentage point increase from the previous week. The Brugler500 index also saw an uptick, reaching 332.
The Seam reported 2,299 bales sold at an average price of 80.40 cents per pound, while the Cotlook A Index decreased by 225 points to 88.40 cents. ICE certified cotton stocks remained unchanged at 98,838 bales as of July 17, and the Adjusted World Price increased by 3.52 cents to 65.37 cents per pound.
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