US Cotton Prices Slide Amid Market Weakness

Cotton futures were in the red on Monday, with prices slipping by as much as $174 per unit. The US dollar index rose by $0.609, while crude oil gained $1.84 per barrel.

The weekly Crop Progress report showed that 57% of the US cotton crop had bolls opening as of Sunday, with 8% already harvested. Condition ratings stood at 36% good/excellent, a 2-percentage-point improvement from the previous week.

The Brugler500 index remained steady at 298, despite poor/very poor ratings increasing by 2%. The Cotlook A index, however, climbed 100 points to reach 98.20. Certified cotton stocks on ICE fell by 3,164 bales on September 11, with a total of 38,462 bales remaining.