Cotton futures closed lower on Friday, with March down 10 points for the week. Crude oil futures dropped 9 cents to $57.51 per barrel, while the US dollar index fell to $98.405. A CFTC report showed a decrease of 2,086 contracts in the spec fund net short position.

An online auction from The Seam saw 13,615 bales sold at an average price of 60.93 cents/lb. The Cotlook A Index rose by 25 points to 74.20 cents, with ICE certified cotton stocks remaining steady at 13,971 bales. The Adjusted World Price was updated to 50.39 cents/lb, down 89 points from the previous week.

Cotton prices closed lower across multiple months, with Mar 26 Cotton at 63.83, down 14 points, May 26 Cotton at 64.91, down 14 points, and Jul 26 Cotton at 65.94, down 13 points. Austin Schroeder did not have any positions in the securities mentioned. This information is for informational purposes only.

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