Follow Through Weakness in AM Cotton
Nasdaq 2023-09-06 12:24:43 • 2 mins
The current cotton quotes are another 33 to 68 points weaker after overnights trade. Cotton came out of the 3-day weekend with triple digit losses of as much as 161 points. The back months were also red, but stayed firmer with 68 to 87 point losses.
USDAs weekly Crop Progress report had 6% of the crop remaining to set bolls as of 9/3. The report showed 32% of the crop had bolls opening, up from 25% last week and 33% on average. Cotton condition ratings improved by 5 points on the Brugler500 to 276. Almost every individual state saw worse conditions, with LA, SC, and TN down by double digits however, TX improved by 13 and pulled up the national score.