Cotton futures saw some strength on Monday, with some outside help, as contracts were up 18 to 41 points.  The outside factors were helping, mainly via crude oil, up $1.79/barrel, as the dollar index was just slightly lower.

The weekly Crop Progress data showed 97% of the US crop now planted, with 43% squaring, above the 38% average pace. The crop was also 11% setting bolls, 2% above normal. Conditions saw a 6% drop in the gd/ex categories to 50% gd/ex as of Sunday. Much of the shift was split between fair and very poor, both up 3, as the Brugler500 index was down 11 points to 331.

USDA’s Cotton Systems report showed 732 RB of cotton consumed during May, well above a year ago and 14.2% larger vs. April. Stocks were slightly up vs. last month at 1,276 RB, but down 55.3% compared to last year. 

ICE certified cotton stocks were 59,035 bales on June 28, unchanged from the day prior. The Cotlook A Index was down 75 points on June 27 at 84.70 cents/lb. The USDA Average World Price (AWP) rebounded from the previous week decline, up 1.58 to 58.23 cents per pound. It will be in effect through July 4.  Because of the holiday, the next AWP rate announcement from FSA will be on Friday, July 5 at 8 AM EDT. 

Jul 24 Cotton  closed at 70.07, up 26 points,

Dec 24 Cotton  closed at 73.1, up 41 points,

Mar 25 Cotton  closed at 74.76, up 40 points