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Cotton futures exhibited mixed results on Monday, with contracts fluctuating from a decrease of 20 points to an increase of 11 points. The dollar index rose by 217 points, while crude oil futures fell by 25 cents per barrel. Tropical storm John is expected to bring rains to the Southeast over the next week, potentially disrupting the ongoing cotton harvest.
As of September 22, 63% of the U.S. cotton crop had bolls open and the harvest was reported at 14% complete—2% above the seasonal norm, according to NASS. However, condition ratings dropped by 2% to 37% rated good/excellent, while the Brugler500 index decreased by 13 points to 295, with poor/very poor ratings rising to 33%.
The Seam recorded 1,333 online cash cotton bale sales on Friday, averaging 69.43 cents per pound. As of September 20, ICE cotton stocks remained at 265 bales. The Cotlook A Index increased by 175 points to 84.55 cents per pound on the same date, while the USDA Adjusted World Price (AWP) was raised by 283 points to 58.83 cents per pound, valid until Thursday.
Dec 24 Cotton: 73.44, down 8 points
Mar 25 Cotton: 75.19, up 5 points
May 25 Cotton: 76.26, up 10 points
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