Cotton – International News
ICE Cotton Futures closed 4 to 71 points higher across the contracts. Crude oil prices rose 88 cents per barrel during the session, while the US Dollar Index increased by 0.232 points.
According to the weekly Crop Progress data, 70% of the US cotton crop had bolls opening as of Sunday. Harvest was 17% complete, running 2 percentage points ahead of the normal pace. Crop conditions were rated 35% good to excellent, up 1 percentage point from the previous week. The Brugler500 index fell 1 point to 294.
Following last week’s US-China meeting, China removed tariffs on several US goods, including cotton.
According to The Seam, only 178 bales were sold on September 25 at an average price of 63.49 cents per pound.
The Cotlook A Index increased 50 points on September 25 to 93.75.
ICE certified cotton stocks declined by 1,455 bales on Friday, bringing certified stocks to 28,064 bales.
The Adjusted World Price declined by 283 points last week to 66.09 cents per pound.
