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On Tuesday, cotton futures rose by 82 to 97 points, closing at 66.39 cents for October contracts, 67.68 cents for December, and 69.57 cents for March. The US dollar index decreased to $96.265, while crude oil futures increased by $1.22.
The USDA’s National Agricultural Statistics Service (NASS) reported that as of Sunday, 50% of the US cotton crop had its bolls opening, with 9% of the harvest completed. Crop condition ratings declined by 2% to 52%, and the Brugler500 index dropped 5 points to 344. Conditions in Texas fell by 4 points, mirrored by a similar drop in Georgia.
Additionally, The Seam reported the sale of 1,791 bales at an average price of 64.64 cents per pound, while the Cotlook A Index rose by 5 points to 78.10 cents on September 15. The USDA’s Adjusted World Price is set at 54.10 cents per pound, down 21 points last week.
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