Cotton futures experienced a decline on Friday, with December contracts dropping 45 points and the front months down 33 to 50 points. In the same trading session, crude oil futures fell by 96 cents per barrel, while the US dollar index increased by $0.311 to $97.435.
As of July 22, spec traders increased their net short position by 1,415 contracts, totaling 39,879 contracts. Total export sales commitments for cotton reached 11.768 million RB, which is 107% of the USDA’s expected figure, while actual shipments stood at 10.778 million RB, surpassing the average pace at 98%.
Closing prices for cotton on October 25 were at 67.01 cents (down 33 points), December 25 at 68.23 cents (down 48 points), and March 26 at 69.65 cents (down 48 points).
