Cotton Futures Edge Up as U.S. Crop Progress Continues

The cotton market saw gains on Tuesday, with futures rising between 7 and 20 points. External factors, such as an increase in crude oil prices and a drop in the US dollar index, contributed positively to the market.

Cotton Crop Advancement and Condition Ratings

According to Crop Progress data, 97% of the U.S. cotton crop is currently setting bolls. Harvest completion stands at 52%, which is 6 percentage points ahead of the normal pace. The overall crop condition rating is now at 33% good to excellent, a decrease of 4% from last week. The Brugler500 index slid 9 points to 286, while Texas’s rating dipped by 13 points to 252. Georgia’s rating remained steady at 314.

Market Performance and Price Insights

The Seam reported a total of 158 bales sold online on October 28, averaging 69.25 cents per pound. Meanwhile, ICE cotton stocks stayed unchanged on Monday, maintaining 174 bales of certified stocks. The Cotlook A Index fell by another 70 points on October 28, landing at 82.55 cents per pound. Additionally, the USDA Adjusted World Price (AWP) increased by 4 points to 59.28 cents per pound last Thursday.

Closing Prices for March, May, and July Cotton Contracts

Mar 25 Cotton closed at 72.74, an increase of 20 points.

May 25 Cotton closed at 74.28, rising 18 points.

Jul 25 Cotton closed at 75.39, going up 20 points.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are intended solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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