Cotton futures experienced a decline on Friday, with March contracts down 10 points, closing at 63.83 cents per pound. In related markets, crude oil dropped 9 cents per barrel to $57.51, and the US dollar index edged up by $0.061 to 98.405.
A delayed report from the CFTC revealed a decrease of 2,086 contracts in the speculative fund net short position, bringing it to 58,243 contracts for the week ending November 18. Additionally, an online auction by The Seam reported sales of 13,615 bales at an average price of 60.93 cents per pound.
The Adjusted World Price was updated to 50.39 cents per pound, which is a reduction of 89 points from the previous week. ICE certified cotton stocks remained steady at 13,971 bales as of December 11.
