Cotton futures saw gains as contracts remained steady to 12 points higher, with December up 11 points for the week. The US dollar index dropped $0.370 to $97.845, while crude oil futures rose by 22 cents. Commitment of Traders data showed an increase in bearish bets by managed money traders in cotton futures and options. Export Sales data indicated a total of 4.059 million RB of cotton sold by 9/18, down 18% from last year. Thursday’s online auction from The Seam had 1,561 sales at an average price of 59.3 cents/lb. ICE cotton stocks were steady at 15,474 bales on 9/25, with USDA’s Adjusted World Price (AWP) down 41 points to 54.38 cents/lb. Oct 25 Cotton closed at 63.95, up 12 points, Dec 25 Cotton closed at 66.4, up 12 points, Mar 26 Cotton closed at 68.26, up 7 points.
Read more at Yahoo Finance: Cotton Ends Friday with Strength
