US Cotton Prices Slip After Midday Gains

Cotton futures prices closed lower on Tuesday after experiencing gains in the middle of the day. The US dollar index also fell by 0.109, while crude oil lost $3.48 per barrel.

The weekly Crop Progress report showed that 81% of the US cotton crop had squared as of Sunday, matching normal levels. This indicates a stable pace for the crop's development. Condition ratings were at 46% good/excellent, up from last week's numbers.

However, some regions reported deteriorating conditions, including Louisiana, Oklahoma, Tennessee, and Virginia. The Brugler500 index rose by 4 points to 336, with Texas' rating increasing by 10 points.