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Cotton prices fell by 30 to 38 points on Thursday, with December 25 Cotton closing at 62.28 cents/lb, March 26 at 64.08 cents/lb, and May 26 at 65.23 cents/lb. Export sales for the week ending October 30 totaled 81,530 running bales (RB) of upland cotton, marking a marketing year low, while shipments reached 146,581 RB, a three-week low.
In related markets, crude oil futures rose by 76 cents per barrel to $59.71, with the US dollar index increasing by $0.129 to 98.930. The latest Adjusted World Price for cotton was updated to 51.28 cents/lb, a rise of 51 points from the previous week. The Seam’s online auction on December 3 indicated that 10,758 bales were sold at an average price of 59.66 cents/lb, and ICE certified cotton stocks remained stable at 19,894 bales.
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