Cotton futures are experiencing mixed results, with most contracts down 35 to 45 points on Tuesday, except for the thinner traded October contract, which is up 1 point. As of the latest Crop Progress report, 66% of the US cotton crop has been planted, 3 percentage points below the average. In Texas, planting is on track with the 5-year average at 61%, while Georgia is lagging at 74%.
Condition ratings for the cotton crop are at 49% good/excellent, which is 12% lower than last year, and the Brugler500 index stands at 324, the lowest since 2013. On June 2, The Seam auction recorded 1,174 bales sold at an average price of 61.89 cents per pound, and certified ICE cotton stocks increased by 10,694 bales to a total of 53,700 bales.
