Cotton futures closed on Wednesday with Dec 24 at 72.25 cents per pound, down 2 points; Mar 25 at 74.36 cents per pound, down 6 points; and May 25 at 75.70 cents per pound, down 5 points. The market faced pressure from external factors, including a $0.21 decline in crude oil prices and a 372-point rise in the US dollar index.
On October 8, the Seam reported 837 bales of online sales at an average price of 70.25 cents per pound, as export activity remained sluggish. ICE cotton stocks were steady at 265 bales; the Cotlook A Index increased by 25 points to 85.10 cents per pound, while the USDA Adjusted World Price (AWP) was reduced by 25 points to 60.81 cents per pound, effective through Thursday.
The market is anticipating the weekly Export Sales report due on Thursday morning.
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