Cotton futures saw mixed activity on Monday, with contracts fluctuating between a 36-point decline and a 13-point gain. Market sentiment was influenced by a US dollar index that dipped $0.101 to $99.95, while crude oil prices climbed 74 cents during the session.
According to Monday afternoon’s Crop Progress report, 77% of the US cotton crop had been planted as of Sunday, aligning with the average pace. Square development stands at 13%, which is 2% ahead of normal. Initial condition ratings were reported at 53% good/excellent, marking a 4-percentage point increase over the previous year. Furthermore, the Brugler500 index condition ratings reached 345, surpassing last year’s initial ratings by 21 points.
The Seam reported sales of 1,311 bales on June 5 at an average price of 74.00 cents/lb. Meanwhile, the Cotlook A Index fell 135 points on Friday to 86.15 cents. ICE certified cotton stocks increased by 11,219 on June 5, bringing the total to 261,648 bales. The Adjusted World Price declined by another 29 points on Thursday, settling at 63.20 cents/lb.
Jul 26 Cotton closed at 73.39, down 36 points.
Dec 26 Cotton closed at 77.61, up 13 points.
Mar 27 Cotton closed at 78.87, up 7 points.
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