Cotton futures moved lower on Tuesday, with contracts posting declines of 3 to 75 points. Crude oil rose $4.54 per barrel during the session, while the US dollar index gained $0.219.
According to Weekly Crop Progress data, 57% of the US cotton crop had bolls opening as of Sunday, and 8% of the crop had been harvested. Condition ratings were set at 36% good/excellent, an increase of 2 percentage points from the prior week. The Brugler500 index held steady at 298, as poor and very poor ratings edged up 2%.
The Cotlook A index fell 205 points on September 14 to 96.15. ICE certified cotton stocks remained unchanged on Monday, holding at 38,462 bales. The Adjusted World Price declined 441 points last week to 69.51 cents per pound.
Oct 26 Cotton is at 80.61, down 3 points.
Dec 26 Cotton is at 83.91, down 64 points.
Mar 27 Cotton is at 86.37, down 75 points.
