Cotton Futures Rise, Crude Oil Dips

Cotton futures closed the week on a positive note, with December contracts showing a significant increase of 156 points. This upward trend comes amidst mixed market activities, as crude oil futures dipped and the US dollar index slightly decreased. Cotton sales and shipments also saw a healthy rebound, with 175,678 running bales sold and 159,631 running bales shipped. An online auction reported the sale of 3,553 bales at an average price of 61.16 cents per pound, while the Cotlook A Index rose to 74.95 cents. The Adjusted World Price for cotton decreased slightly to 50.77 cents per pound.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.