Cotton futures rose on Monday, gaining between 54 and 90 points. As of Sunday, 81% of the U.S. cotton crop had squared, matching typical seasonal progress, while 45% of the crop was setting bolls, consistent with the five-year average. Crop condition ratings improved slightly, with 46% of the crop rated as good/excellent, an increase of 1 percentage point from the previous week.
In market updates, October cotton closed at 79.34 cents, up 79 points; December cotton closed at 80.88 cents, up 90 points; and March cotton closed at 82.47 cents, up 83 points. Meanwhile, the Cotlook A Index remained unchanged at 90.35 cents, with ICE certified cotton stocks steady at 94,235 bales.
In related commodity news, crude oil prices fell by $7.40 per barrel, while the U.S. dollar index increased by 0.083. The NOAA 7-day QPF indicated limited rainfall across much of Texas, with only 1 to 2 inches expected in parts of Mississippi, Alabama, and Georgia. The Adjusted World Price for cotton was reduced by 155 points to 63.82 cents per pound, effective through next week.
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