Cotton futures experienced losses on Tuesday, with October contracts falling 120 points to close at 65.7 cents/lb. Overall, futures dipped by 50 to 70 points across most contracts. Concurrently, crude oil prices declined by $0.59 per barrel, and the US dollar index increased by 0.119 to 99.025.
According to USDA data, as of Sunday, 76% of the US cotton crop was planted, trailing the typical pace of 80%. In Texas, planting was 72% complete, and in Georgia, it was 87%, both behind normal levels. Crop conditions remained steady at 49% good/excellent. The Seam reported 1,581 bales sold online at an average price of 71.25 cents/lb, while ICE cotton stocks increased by 1,386 bales to a certified level of 53,351 bales.
