Cotton futures closed higher on Friday, with March contracts gaining 74 points over the week, while settling at 64.49 cents/lb, an increase of 25 points. The online auction by The Seam on December 24 reported sales of 6,914 bales at an average price of 61.96 cents/lb. In related commodities, crude oil futures dropped by $1.45 per barrel to $56.90, and the US dollar index rose to 97.735.
Other cotton futures closed as follows: May 26 at 65.78 cents/lb (up 29 points) and July 26 at 66.95 cents/lb (up 37 points). The Cotlook A Index was reported at 74.00 cents, up 50 points on December 24. ICE certified cotton stocks remained steady at 11,600 bales. The Adjusted World Price was unchanged at 49.99 cents/lb, as no data was reported due to the government holiday closure.
