Cotton futures increased on Friday, with December contracts rising 24 points to close the week higher, reflecting a 17 to 36 point gain across various contracts. The US dollar index fell by $0.134 to 98.095, while crude oil futures decreased by 46 cents.
As of August 5, CFTC data indicated a net short position of -55,152 contracts after an addition of 14,791 contracts the previous week. Additionally, the Cotlook A Index fell by 25 points to 78.00 cents on August 6. ICE cotton stocks were reported at a certified level of 18,242 bales after a decline of 3,375 bales on August 7 due to decertifications. USDA’s Adjusted World Price (AWP) dropped 13 points to 54.39 cents/lb.
