Cotton Closes Mixed on Tuesday

Austin Schroeder Barchart Tue Jun 3, 5:16PM CDT
cotton on stem by Mykola Kolya Korzh via Unsplash

Cotton futures closed mixed action on Tuesday, as most contracts were down 8 to 16 points, and thinly traded October up 2 points. Crude oil prices are up another 85 cents/barrel, with the US dollar index back up $0.575 to $99.210.

The Monday afternoon Crop Progress report indicated 66% of the US cotton crop was planted, 3 percentage points behind normal. Planting pace in TX was even with the 5-year average at 61%, with GA 3 points behind average at 74%. Condition ratings were tallied at 49% good/excellent, which is 12% below last year. The Brugler500 index was at 324, which is the lowest initial crop score since 2013.  Ratings in Texas were the lowest in 3 years to start at 298 (38% gd/ex).

Monday’s auction from The Seam showed 1,174 bales sold at an average price of 61.89 cents/lb. The Cotlook A Index was back up 20 points on 6/2 at 77.45. ICE cotton stocks were up 10,694 bales on June 2 via new certifications, with a certified stocks level of 53,700 bales. USDA’s Adjusted World Price (AWP) was back up 32 points last week at 53.84 cents/lb. It is good through Thursday.

Jul 25 Cotton  closed at 66.05, down 8 points,

Oct 25 Cotton  closed at 68.11, up 2 points,

Dec 25 Cotton  closed at 68.53, down 16 points


On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.