Cotton futures are still grinding lower on Tuesday, with most contracts down 17 to 30 points at midday. The US dollar index is back up 332 points at midday.

Census data pegged cotton exports at just 826,342 bales during June, excluding linters. That was the lowest since November of last year and a 10- year low for June.

The weekly Crop Progress report showed 91% of the US cotton crop squared, matching normal pace, with 60% setting boll and 8% of the crop with bolls open, both 1% faster than normal. Cotton conditions tool another hit, this week down 4% to 45% gd/ex. The Brugler500 index, taking into account all 5 NASS ratings was down 13 points to 314 and the lowest rating so far this year. Texas was a big reason for the drop, losing 24 points on the Brugler500 index, as GA was up 5 points. 

ICE cotton stocks were unchanged on August 5, leaving 18,991 bales of cert stocks. The Cotlook A Index was up 25 points on August 2 at 79.60 cents/lb. The USDA Average World Price (AWP) was cut by 108 points last Thursday afternoon to 53.94 cents/lb, and is in effect through this Thursday.

Dec 24 Cotton  is at 67.59, down 19 points,

Mar 25 Cotton  is at 69.2, down 22 points,

May 25 Cotton  is at 70.39, down 28 points