Cotton International News
ICE cotton futures closed Tuesday with contracts down 16 to 55 points across the board. Crude oil declined 57 cents per barrel, while the U.S. Dollar Index increased 0.084 points.
According to the USDA’s Cotton Ginnings report, 429,250 running bales of cotton had been ginned by September 15, down 8% from the same period last year.
Weekly Crop Progress data showed U.S. cotton conditions rated good to excellent at 34%, down 2 percentage points from the previous week. The Brugler500 index declined 1 point to 295. Texas ratings fell 5 points.
According to The Seam, 769 bales were sold Monday at an average price of 79.25 cents per pound. The Cotlook A Index fell 95 points on September 21 to 91.35 cents per pound. ICE-certified cotton stocks declined by 6,192 bales on September 21 to 29,556 bales. The Adjusted World Price fell 59 points last week to 68.92 cents per pound.
