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Cotton futures experienced gains as December contracts rose by 11 points, closing at 66.4 on September 25. The US dollar index fell by $0.370 to $97.845, while crude oil prices increased by 22 cents.
As of September 23, managed money increased their bearish position in cotton futures by 2,943 contracts, bringing their net short to 62,004 contracts. Export sales data showed 4.059 million RB of cotton sold by September 18, an 18% decline compared to the previous year.
On the same day, the Cotlook A Index decreased by 45 points to 77.70 cents, with ICE certified stocks remaining steady at 15,474 bales. Meanwhile, the USDA’s Adjusted World Price decreased by 41 points to 54.38 cents.
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