Cotton futures are down to 60 points as we roll into Wednesday and the monthly USDA Cotton Consumption report. Cotton futures collapsed on Tuesday, with contracts down 128 to 309 points across the front months and deferreds 31 to 79 points lower. July hit the lowest reading since last June. Daily price limits are back to 3 cents per pound due to nearby futures getting back to the 70 cent level. Crude Oil was down $1.09 per barrel yesterday, with the US dollar index up 762 points on the day.

Weekly Crop Progress data indicated cotton planting pace in the major states was moving along, at TX was 18% complete, even with normal, and GA was 1% above the 5-year average pace at 10%.

ICE certified cotton stocks were down 937 bales on April 29 at 182,659 bales. The Cotlook A Index was down 5 points on April 29 at 87.75 cents/lb. The AWP dropped another 85 points to 61.33 last Thursday and is in effect through this Thursday.

May 24 Cotton  closed at 77.92, down 210 points, currently unch

Jul 24 Cotton  closed at 78.43, down 309 points, currently down 59 points

Dec 24 Cotton  closed at 76.83, down 142 points, currently down 28 points