Cotton closed out Monday’s session with contracts up 70 to 85 points. The US dollar index was just slightly higher, with the crude oil leading the way via the synthetic market, up $2.89/barrel. 

USDA’s Crop Production report showed 11.17 million planted cotton acres, a 500,000 acre drop, with harvested at 8.63 million, down 1.04 million acres. Yield was down just slightly from the July report at 840 lbs/ac, as production was cut by 1.89 million bales to 15.11 million. Old crop stocks were up 100,000 bales to 3.15 million, but the smaller production helped the new crop to be slashed by 800,000 bales to 4.5 million.

The US cotton crop was listed at 96% squared, by August 11, 74% setting bolls and 13% of the crop with bolls open. All three were pegged at 1% above the normal pace. Crop ratings were up 1% to 46% good/excellent, as the Brugler500 index was up 5 points to 319 with 3% shifting out of very poor.

The initial NASS Cotton Ginning report showed 68,150 running bales have been ginned by August 1, more than triple the same report last year.

ICE cotton stocks were down 380 bales via decertification on August 9, leaving 18,361 bales of cert stocks. The Cotlook A Index was down 50 points on August 9 to 78.70 cents/lb. The USDA Average World Price (AWP) was raised by 130 points on Thursday afternoon to 55.24 cents/lb and is good through next Thursday.

Dec 24 Cotton  closed at 69.07, up 73 points,

Mar 25 Cotton  closed at 70.5, up 82 points,

May 25 Cotton  closed at 71.72, up 81 points