Cotton futures were up 35 to 89 cents on Monday. The dollar index was up 391 points, with crude oil futures 28 cents/barrel higher to provide some outside support. Rains late last week and over the weekend have impacted a few cotton acres in the southeast, noted by the drop in condition ratings after the close.
Weekly Crop Progress data from NASS showed 72% of the US cotton crop with bolls opening, 1% ahead of normal, with harvest listed at 20% complete. Cotton condition ratings fell 6% to 31% in gd/ex, as the Brugler500 index was down another 14 points to 281.
The Seam reported just 47 online cash cotton bale sales on Friday, averaging 71.40 cents/lb. ICE cotton stocks were unchanged on September 27, leaving 265 bales of certified stocks. The Cotlook A Index was down 25 points on September 27 at 84.65 cents/lb. The USDA Adjusted World Price (AWP) was raised by 223 points last Thursday to 61.06 cents/lb.
Dec 24 Cotton closed at 73.61, up 89 points,
Mar 25 Cotton closed at 75.36, up 84 points,
May 25 Cotton closed at 76.52, up 91 points
