On Tuesday, cotton prices declined by 17 to 47 points across various contracts, while crude oil rose $3.70 per barrel amid increased risk associated with potential U.S. involvement in the Iran-Israel conflict. Additionally, the U.S. dollar index increased by $0.853 to reach 98.405.
The weekly Crop Progress report indicated a one-point drop in the good to excellent ratings for crops, now at 48%. The Brugler500 index increased by four points to 328, reflecting poorer conditions in part of the crop. Notable state ratings included Texas, which saw an 8-point increase, while Georgia remained steady. Other states reported significant gains: Tennessee (+39), North Carolina (+22), and Mississippi (+11).
As of June 13, the Cotlook A Index fell by 35 points to 77.80, with ICE cotton stocks at a certified level of 62,212 bales on June 16. The USDA’s Adjusted World Price rose by 26 points to 54.02 cents per pound. Closing prices for cotton on July 25 were 65.05 (down 39 points), October 25 at 66.13 (down 17 points), and December 25 at 67.55 (down 47 points).
