Cotton prices are experiencing gains of 25 to 30 points as trading begins on Wednesday. Futures rose significantly on Tuesday, with contracts closing 145 to 159 points higher. Additionally, crude oil increased by $1.76 per barrel, while the US dollar index rose by 0.254.
As of Sunday, July 23, 73% of the US cotton crop was squared, 1% ahead of the normal pace, with 32% setting bolls at the 5-year average. The condition ratings improved to 45% good/excellent, up 1 percentage point from the previous week. Texas saw a 2-point decline in ratings, while Georgia remained steady. The Brugler500 index also rose by 1 point to 332.
On July 20, the Cotlook A Index fell by 75 points to 87.65 cents, and ICE certified cotton stocks decreased by 1,038 bales, totaling 97,800 bales. The Adjusted World Price increased by 3.52 cents last week to 65.37 cents per pound.
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