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Cotton futures experienced significant losses on November 6, 2023, with December contracts down 192 points this week, closing at 63.62 cents per pound. March and May contracts also saw declines, closing at 65.14 cents and 66.35 cents, down 63 points each.
On the same day, crude oil prices fell by 39 cents to $59.82 per barrel, while the US dollar index decreased by $0.165 to 99.420. The Thursday online auction from The Seam reported sales of 2,261 bales of cotton at an average price of 63.81 cents per pound, with ICE certified cotton stocks remaining steady at 13,749 bales.
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