On Friday morning, cotton prices declined by 18 to 21 points, following a Thursday close where futures fell 38 to 41 points. The March contract settled at 63.91 cents per pound, while May and July contracts closed at 65.52 and 66.99 cents per pound, respectively. Crude oil futures also dropped by 95 cents per barrel to $59.67, and the US dollar index fell by $0.473 to 98.090.
In related data, a Wednesday online auction from The Seam reported sales at 59.15 cents per pound for 17,692 bales, and the Cotlook A Index decreased by 25 points to 74.55 cents as of January 21. ICE certified cotton stocks remained unchanged at 10,422 bales. The Adjusted World Price was updated to 50.99 cents per pound on Thursday, a drop of 18 points from the previous week.
