Cotton Prices Surge as Condition Ratings Dip

Cotton futures closed higher on Monday, with contracts up across the board.

The US dollar index was down $0.094, while crude oil rose by $2.55.

The USDA's Weekly Crop Progress report showed that 74% of US cotton had set bolls as of Sunday, but condition ratings were down 2 percentage points to 38% good/excellent.

Cotton prices closed at the following levels: Oct 26 Cotton at 84.07 (up 47 points), Dec 26 Cotton at 85.48 (up 68 points), and Mar 27 Cotton at 87.28 (up 60 points).