Cotton futures closed Monday’s session 12 to 95 points lower. Crude oil fell by $1.41 per barrel to $75.19, while the U.S. Dollar Index gained 0.152 points to 100.770.

Crop Progress data showed that 92% of the U.S. cotton crop had been planted by June 21, which is 2 percentage points behind the average pace. About 27% of the crop had reached the squaring stage, 2 points ahead of normal, while 5% was setting bolls, matching the 5-year average. Crop condition ratings improved by 3 percentage points to 53% good-to-excellent, although the Brugler500 Index slipped 1 point to 345.

CFTC data indicated that managed money funds reduced their net short position in cotton futures and options by 7,068 contracts, bringing the total net short position to 35,136 contracts.

The Seam reported sales of only 3 bales on June 19 at an average price of 65 cents per pound. The Cotlook A Index remained unchanged at 88.60 cents. ICE certified cotton stocks declined by 1,575 bales to 189,447 bales. The Adjusted World Price (AWP) fell another 111 points last week to 62.37 cents per pound.