Cotton futures are down 15 to 43 points on Monday. Price action closed the Monday trade with losses of 27 to 57 points. Crude oil was $1.44/barrel at $67.94, with the US dollar index $0.378 higher to $97.200. Weekly Crop Progress data showed the US cotton crop at 48% squared, with 14% setting bolls, both 1% behind average. Condition ratings were up 1% to 52% gd/ex, with the Brugler500 indx steady at 336.President Trump released a statement later in the day, raising the tariffs on Indonesian goods to 32% on August 1, with tariffs on Bangladesh at 35%.
Commitment of Traders data showed a 5,175 contract reduction to the net short in cotton futures and options during the week ending on July 1, taking it to 42,910 contracts. The Cotlook A Index was down 25 points on 7/4 at 79.15. ICE cotton stocks were steady on July 3. USDA’s Adjusted World Price (AWP) was up 116 points on Thursday afternoon at 55.34 cents/lb. Jul 25 Cotton closed at 65.39, down 27 points, currently unchOct 25 Cotton closed at 66.79, down 27 points, currently down 43 pointsDec 25 Cotton closed at 67.89, down 57 points, currently down 19 points On the date of publication.
