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Cotton futures closed on Friday, with December contracts up 55 points at 64.28 cents/lb. This week, December cotton rose 44 points. In Thursday’s online auction, only 155 bales sold at an average price of 63.01 cents/lb, while ICE certified cotton stocks remained steady at 16,751 bales as of October 16.
President Trump commented on U.S.-China relations early Friday, suggesting that the country will “be fine” ahead of an upcoming leaders meeting and indicated that 100% tariffs on China are not sustainable.
Additional market data noted crude oil rising by 18 cents/barrel and the US dollar index increasing by $0.218 to 98.310.
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