Cotton futures posted Tuesday losses of 50 to 70 points across most contracts, with October slipping 120 points. Crude oil prices were down $0.59/barrel, with the US dollar index back up $0.119 to $99.025.
Rains are expected to fall from the central part of Texas to over the Southeast in the next week, adding pressure on Tuesday.
USDA reported 76% of the US cotton crop planted as of Sunday, lagging the 80% average pace. Planting in TX was 72% complete, and behind the 74% pace with GA 2% behind normal at 87%. The crop was 12% squared, matching the 5-year average. Conditions were steady at 49% gd/ex, with the Brugler500 index unchanged at 324. Ratings in TX were down 3 points, with GA up 4 points.
The Seam showed 1,581 bales in online sales on Monday, with an average price of 71.25 cents/lb. The Cotlook A Index was back up 25 points on 6/9 at 78.00. ICE cotton stocks were up 1,386 bales on June 9 via new certifications, with a certified stocks level of 53,351 bales. USDA’s Adjusted World Price (AWP) was back down 8 points last week at 53.76 cents/lb.
Jul 25 Cotton closed at 65.42, down 57 points,
Oct 25 Cotton closed at 65.7, down 120 points,
Dec 25 Cotton closed at 67.71, down 64 points
Πηγή: barchart.com