Cotton futures closed with gains on Friday, up 20 to 25 points, but March slipped back 8 points for the week. Crude oil futures rose 55 cents per barrel to $56.55. The US dollar index was $0.292 higher at $98.380. Cotton Ginnings data revealed 10.212 million RB of ginned cotton, down 10% from last year. CFTC data showed managed money reduced net shorts to 55,013 contracts. The December 18 online auction had 9,858 bales sold at an average price of 60.53 cents/lb. ICE certified cotton stocks remained at 12,396 bales. Mar 26 Cotton closed at 63.75, up 24 points, May 26 Cotton closed at 64.84, up 23 points, Jul 26 Cotton closed at 65.86, up 20 points. Adjusted World Price dropped to 49.99 cents/lb.

Read more at Yahoo Finance: Cotton Closes with Gains on Friday