Cotton Lower on Improving Crop Ratings

Cotton futures saw losses of 56 to 132 points in the nearby contracts on Tuesday. Strength in the US dollar along with improved crop ratings on Monday pressured the market lower. After Monday’s close, NASS showed that TX had 12% of their crop setting bolls, 6% behind normal, with GA 8% faster than normal at 45%. Any damage from TS Barry is likely to show up in next week’s report due to the timing as LA was 5 points better on Monday. MO and TN were the only states with lower conditions, as TX was up 13 points and MS was 16 higher. The Cotlook A index for July 15 was down 40 points from the previous day at 73.65 cents/lb. The weekly AWP is 58.05 cents/lb through Thursday.

OCT 19 Cotton closed at 62.38, down 132 points,

DEC 19 Cotton closed at 63.09, down 86 points

MAR 20 Cotton closed at 64.32, down 68 points

MAY 20 Cotton closed at 65.24, down 56 points

--provided by Brugler Marketing & Management

Market Commentary provided by:

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