Cotton futures are experiencing losses ranging from 64 to 153 points on Tuesday, amid external pressures from a $4.16 drop in crude oil prices and a slight decrease in the US dollar index. In August, US cotton export shipments totaled 684,962 bales, marking a 10-year low for the month and a 34.07% decrease from last year.
According to the latest Crop Progress report, 82% of the US cotton crop has bolls open, with harvest completion at 26%, ahead of the 22% average. Cotton condition ratings have fallen 2% to 29% rated good/excellent, leading to a 2-point increase in the Brugler500 index to 283. The Seam reported 2,100 bales sold online at an average price of 68.30 cents/lb on October 7, with ICE cotton stocks remaining unchanged at 265 bales.
As of October 7, the Cotlook A Index increased by 50 points to 84.85 cents/lb, while the USDA Adjusted World Price (AWP) was reduced by 25 points to 60.81 cents/lb. December 2024 cotton is priced at 72.04 cents/lb, March 2025 at 74.09 cents/lb, and May 2025 at 75.41 cents/lb.
