Back Oct 29, 2024

Cotton Pressured Lower on Monday

Cotton futures closed out the Monday session with contracts 5 to 32 points in the red. The outside markets were a pressure factors, with crude oil falling $3.81/barrel after Israel’s strikes on Iran were limited over the weekend. The US dollar index was 43 points higher.

Crop Progress data tallied 97% of the US cotton crop setting bolls, with harvest now listed at 52% complete and 6 percentage points ahead of normal. The final condition rating score showed the crop at 33% gd/ex, down 4% from last week and a Brugler500 index dropping 9 points to 286.

The Seam reported 496 bales of online sales on October 25 at an average price of 68.84 cents/lb. ICE cotton stocks were unchanged on Friday, leaving 174 bales of certified stocks. The Cotlook A Index was down 100 points on October 25 at 83.25 cents/lb. The USDA Adjusted World Price (AWP) was back up 4 points to 59.28 cents/lb on Thursday afternoon. 

Mar 25 Cotton  closed at 72.54, down 31 points,

May 25 Cotton  closed at 74.1, down 29 points,

Jul 25 Cotton  closed at 75.19, down 27 points


Source: Barchart.com