Cotton Bounces Back from Monday Decline

Cotton prices have rebounded on Tuesday, rising by 16 to 75 points. This comes after futures slipped lower into Monday's close, with contracts down 46 to 55 points for the day.

The US dollar index is up $0.272, and crude oil has increased by $4.12 per barrel. Weekly Crop Progress data revealed that 65% of US cotton is setting bolls as of Sunday, with 10% bolls opening. Condition ratings were at 40% good/excellent, down 2 percentage points from the previous week.

The Seam reported an average price of 81.82 cents per bale on August 7, with 246 bales sold. The Cotlook A Index rose by 20 points to 93.70 cents that same day.