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Cotton futures are experiencing declines on Monday, with contracts down 30 to 35 points by midday. As of September 23rd, managed money increased their bearish stance in cotton futures and options by 2,943 contracts, bringing their net short to 62,004 contracts.
Friday’s online auction from The Seam recorded 1,187 sales at an average price of 62.46 cents per pound. The Cotlook A Index remained steady at 77.70 cents on September 26, while certified ICE cotton stocks were at 15,474 bales. The USDA’s Adjusted World Price (AWP) decreased 41 points last week, settling at 54.38 cents per pound.
As of now, October 25 cotton is priced at 63.95 cents (up 12 points), December 25 cotton at 66.05 cents (down 35 points), and March 26 cotton at 67.93 cents (down 33 points).
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