Cotton Futures Recover with Strong Gains Across the Board

Cotton futures experienced a strong rebound on Monday, closing higher across the board. The gains ranged from 36 to 85 points, depending on the contract.

The US dollar index rose $0.61, while crude oil prices declined by $4.61 per barrel. In contrast, the Cotlook A Index was up 125 points at 90 cents.

The Monday Crop Progress report revealed that 88% of the US cotton crop had been squared as of Sunday, matching the 5-year average. However, condition ratings slipped 4 percentage points to 42% good/excellent.