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Headlines
- Cotton futures showed gains ranging from 21 to 54 points across front months on Tuesday.
- Crop condition ratings declined by 4%, with notable drops in Texas and Georgia, while the USDA Adjusted World Price increased to 57.27 cents per pound.
- The dollar index and crude oil futures also experienced fluctuations, with ICE cotton stocks remaining stable.
Cotton futures posted gains of 21 to 54 points across the front months on Tuesday, reflecting positive movement in the market. This upward trend occurred amid a 122-point increase in the dollar index and a decline in crude oil futures, which fell by $2.39 per barrel.
Crop condition ratings from NASS revealed a 4% drop in the good/excellent categories, now at 40%. The Brugler500 index also decreased by 9 points to 306. Specifically, conditions in Texas worsened by 17 points, while Georgia saw a 6-point drop. Despite these changes, the Seam reported 2,051 online cash cotton bale sales on Monday, with an average price of 58.46 cents per pound.
ICE cotton stocks remained unchanged as of September 9, maintaining 265 bales of certified stocks. The Cotlook A Index saw a decrease of 140 points on September 9, settling at 79.40 cents per pound. In contrast, the USDA Adjusted World Price (AWP) was revised up by 29 points from the previous week to 57.27 cents per pound.
