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Cotton Holding Gains into Tuesday’s Midday

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⚡ Quantum Brief
Cotton futures rose 39 to 59 points across front-month contracts on Tuesday, with December 2024 closing at 68.28 cents/lb, up 59 points, amid broader commodity volatility. USDA data showed 45% of the U.S. cotton crop with bolls opening—5% above average—while 8% was harvested, 2 points ahead of normal, signaling faster-than-expected progress. Condition ratings declined 4% to 40% in "good/excellent" categories, dragging the Brugler500 index down 9 points to 306, reflecting worsening crop quality despite accelerated growth. Cash sales averaged 58.46 cents/lb on The Seam’s 2,051-bale trade, while the Cotlook A Index fell 140 points to 79.40 cents/lb, contrasting with USDA’s 29-point AWP hike to 57.27 cents/lb. Crude oil dropped $3.15/barrel and the dollar index gained 97 points, adding macroeconomic pressure to cotton’s mixed fundamentals and futures momentum.
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AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Cotton Holding Gains on Tuesday’s Midday September 10, 2024 — 03:18 pm EDT Written by Austin Schroeder for Barchart-> Cotton futures are up 39 to 59 points so far across the front months on Tuesday. The dollar index is up 97 points so far on the day, with crude oil futures back down $3.15/barrel.After the Monday close, NASS reported 45% of the US cotton crop with bolls opening, ahead of the 40% average, with 8% harvested, 2 percentage points above normal. Condition ratings dropped back 4% to 40% in the gd/ex categories, with the Brugler500 index down 9 points to 306.The Seam ported 2,051 online cash cotton bale sales on Monday, average 58.46 cents/lb. ICE cotton stocks were unchanged on September 9, leaving 265 bales of cert stocks. The Cotlook A Index was down 140 points on September 9 at 79.40 cents/lb. The USDA Adjusted World Price (AWP) was raised by 29 points from the week prior on Thursday to 57.27 cents/lb.Dec 24 Cotton closed at 68.28, up 59 points,Mar 25 Cotton closed at 69.92, up 46 points,May 25 Cotton closed at 71.26, up 46 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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