Cotton International News
ICE cotton futures posted gains of 110 to 247 points across the board on Monday, with the nearby contracts leading the advance. Crude oil fell $4.81 per barrel during the session, while the US Dollar Index increased by 0.255 points.
According to the weekly Crop Progress data, 65% of the US cotton crop had reached the boll-opening stage as of Sunday, while 13% of the crop had been harvested. The crop rated good to excellent declined by 2 percentage points to 34%. The Brugler500 index fell 1 point to 295.
US Treasury Secretary Bessent met with Chinese officials over the weekend. Traders were putting risk back into the market on Monday in anticipation of this week’s meeting between the leaders of the two countries.
According to The Seam, 2,496 bales were sold on Friday at an average price of 77.26 cents per pound. On September 18, the Cotlook A Index declined 205 points to 92.30 cents per pound. ICE certified cotton stocks fell by 869 bales on September 18, bringing certified stocks to 35,748 bales. The Adjusted World Price declined 59 points last week to 68.92 cents per pound.
