Cotton futures experienced steady trading on July 25, 2023, with July and October contracts unchanged, while December dropped by 10 points. Crude oil rose by $0.45 per barrel, and the US dollar index decreased by $0.193.
According to weekly Crop Progress data, 95% of the US cotton crop is planted (compared to an average of 98%), with 40% squaring, which is three points ahead of normal, and 9% setting bolls. Condition ratings improved by 4% to 51% good/excellent, with the Brugler500 index increasing by 9 points to 336. Ratings in Texas rose by 10 points, while Georgia improved by 3.
The Seam reported 1,885 bales sold in Monday’s online auction at an average price of 59.68 cents. The Cotlook A Index increased by 50 points on June 30 to 80.15, while ICE cotton stocks fell by 4,427 bales to 40,683 due to decertification. USDA’s Adjusted World Price was up 15 points last Thursday, now at 54.18 cents per pound, with updates expected tomorrow.
