Cotton futures ended the Friday session with contracts steady to 5 points lower, despite a 40-point gain earlier in the week for March contracts. The USDA reported upland cotton export commitments at 6.598 million RB, reflecting a 15% decline from the same week last year and constituting 57% of their export forecast, which trails the 77% average sales pace.
Additionally, crude oil futures rose by $1.02, settling at $58.78 per barrel, while the US dollar index increased by $0.212, reaching 98.900. As of January 6, managed money net short positions were reduced by 1,306 contracts, resulting in a total of 47,772 contracts. The Adjusted World Price was updated to 50.97 cents/lb, an increase of 21 points from the previous week.
