Cotton futures posted Tuesday losses ranging from 50 to 70 points across most contracts, with the October contract slipping 120 points. Crude oil prices fell by $0.59 per barrel, while the U.S. Dollar Index rose modestly to $99.025.
Forecasts predict rain across central Texas and the Southeast later this week, which is expected to add further pressure to market conditions.
According to the USDA, 76% of the U.S. cotton crop had been planted by Sunday, below the typical 80% pace for this time of year. Planting progress in Texas reached 72%, lagging its 74% average, while Georgia was 2% behind its usual pace at 87%. The crop was 12% squared, consistent with the five‑year average. Overall crop conditions remained steady at 49% rated good or excellent, and the Brugler500 index held steady at 324. Texas condition ratings slipped by three points, whereas Georgia’s improved by four.
Online sales on Monday featured 1,581 bales at an average price of $0.7125 per pound. The Cotlook A Index increased by 25 points on June 9, reaching $0.78. ICE cotton inventories rose by 1,386 bales on June 9 following new certifications, bringing certified stocks to 53,351 bales. The USDA’s Adjusted World Price (AWP) declined by 8 points during the previous week to $0.5376 per pound.
July 25 cotton futures settled at 65.42, down 57 points.
October 25 cotton futures settled at 65.70, down 120 points.
December 25 cotton futures settled at 67.71, down 64 points.
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