Cotton futures experienced weekly losses of 10 to 13 points on Friday, while December futures still gained 126 points overall. As of July 15, spec traders held a net short position of 38,464 contracts, a reduction of 7,626 contracts from the previous week.
Crude oil futures fell by 21 cents per barrel, and the US dollar index decreased by $0.236 to reach 98.210. In cotton market activity, The Seam reported the sale of 385 bales at an average price of 68.25 cents/lb, and ICE cotton stocks saw 1,144 decertifications on July 17, leaving certified stocks at 23,481 bales.
Closing prices for cotton on the market were as follows: October 25 Cotton at 67.12 cents (down 13 points), December 25 Cotton at 68.68 cents (down 12 points), and March 26 Cotton at 69.98 cents (down 10 points).
