Cotton futures closed with gains of 14 to 37 points on Monday, with October down 54 points. Crude oil prices were up $0.80/barrel, with the US dollar index back down $0.152 to $98.990.
USDA reported 76% of the US cotton crop planted as of Sunday, lagging the 80% average pace. The crop was 12% squared, matching the 5-year average. Conditions were steady at 49% gd/ex, with the Brugler500 index unchanged at 324.
The Cotlook A Index was back up 25 points on 6/6 at 77.75. ICE cotton stocks were down 174 bales on June 5 via decertification, with a certified stocks level of 51,965 bales. USDA’s Adjusted World Price (AWP) was back down 8 points last week at 53.76 cents/lb.
