Cotton prices increased by 55 to 61 points on Tuesday, following a decline in crop ratings. The US dollar index rose by $0.330 to 98.510, while crude oil futures gained 12 cents. On August 10, the weekly Crop Progress report indicated that 93% of the US cotton crop had squared, with 65% setting bolls, which is 6 points below the average.
Crop conditions declined by 2% to 53% good/excellent, and the Brugler500 index fell 7 points to 338. The Cotlook A Index decreased by 25 points to 77.25 cents on August 8, with certified ICE cotton stocks remaining steady at 18,242 bales. The USDA’s Adjusted World Price (AWP) fell by 13 points to 54.39 cents/lb.
As of the latest session, Oct 25 Cotton closed at 65.29 (down 3 points), Dec 25 Cotton at 66.76 (up 16 points), and Mar 26 Cotton at 68.23 (up 16 points).
