Cotton futures closed with gains ranging from 99 to 299 points, with several contracts reaching the three-cent limit. Market dynamics were influenced by mixed commodity movements, including a $3.65 rise in crude oil following Iran’s targeting of vessels in the Strait of Hormuz. The U.S. responded by revoking export waiver authorizations for Iranian oil, while the dollar index increased by $0.230.
US crop progress data released Monday afternoon indicated 49% of the cotton crop had entered the squaring phase as of Sunday, 2% ahead of the norm. Boll-setting progress stood at 14%, aligning with the five-year average. Condition ratings were down 2 percentage points to 46% good/excellent, with Texas ratings declining 2 points and Georgia improving 3 points.
May export data from the Census Bureau revealed 1.46 million bales shipped, marking a 15.3% year-over-year increase and the highest level in three years, though down 6.88% from the previous year. The Seam market reported 182 bales sold on July 6 at an average price of 69.54 cents. The Cotlook A Index remained steady at 85.80 cents, while ICE certified cotton stocks remained unchanged at 185,034 bales on July 6. The Adjusted World Price declined 194 points the previous week to 61.94 cents per pound.
July 2026 Cotton closed at 76.94 cents, up 299 points; December 2026 at 81.29 cents, up 299 points; and March 2027 at 82.68 cents, up 296 points.
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