Cotton futures closed slightly higher on Friday, with December up 156 points for the week. Crude oil futures dipped 67 cents per barrel to $58.40, while the US dollar index was $0.092 lower at $99.430. USDA’s Export Sales report showed 175,678 RB of cotton sold, up 11.45% from the previous week.

The recent online auction from The Seam saw 3,553 bales sold at an average price of 61.16 cents/lb. The Cotlook A Index rose 45 points to 74.95 cents. ICE certified cotton stocks remained steady at 20,344 bales. The Adjusted World Price was updated to 50.77 cents/lb, down 3 points from the prior week.

Cotton prices closed higher on Friday, with Dec 25 Cotton at 62.91, up 14 points, Mar 26 Cotton at 64.71, up 14 points, and May 26 Cotton at 65.92, up 17 points. No positions in mentioned securities were held by Austin Schroeder on the publication date. This article was originally published on Barchart.com.

Read more at Yahoo Finance: Cotton Closes the Week with Strength