USDA’s weekly Crop Progress report showed 65% of the US cotton crop setting bolls and 10% of bolls opening as of Sunday, while the share rated good-to-excellent fell 2 percentage points to 40%, pushing the Brugler500 index down 6 points to 319. Cotton futures were mixed at midday, with October down 19 points to 82.53 cents and December off 1 point to 83.85 cents. The Cotlook A Index rose 125 points on August 8 to 95.95 cents, and ICE certified stocks dropped 2,119 bales to 82,513 bales. The Adjusted World Price was raised 163 points last week to 66.29 cents per pound.
USDA reports cotton condition ratings slipped 2 points to 40% good/excellent, indicating deteriorating crop quality.
