Cotton Futures Post Mixed Trade Amid Stable Market
Cotton futures posted mixed trade on Tuesday, with contracts ranging from as much as 25 points higher to down 35 points at close. The market's steadiness is noteworthy given recent fluctuations.
The US dollar index was up $0.011 and crude oil gained $0.6477. Crop Progress data revealed a decline in condition ratings, dropping 2 percentage points to 38% good/excellent.
The Brugler500 index fell another 9 points to 310, with notable deterioration in TX (-11), KS (-24), OK (-20), AR/GA/LA/MO/VA (-2), and AL, AZ, and TN. However, NC and MS saw improvements in condition ratings.
The Seam reported an auction of 892 bales at an average price of 75.15 cents on Monday. The Cotlook A Index rose to 94.05 cents on August 17, and the Adjusted World Price increased by 190 points last week to 68.19 cents/lb.