Cotton futures showed a decline, with the October contract closing at 80.44 cents, down 66 points. The Federal Reserve raised interest rates by 0.25% on Wednesday, indicating the possibility of another hike later this year. In commodity markets, crude oil prices fell by $3.69 per barrel, and the US dollar index increased by $0.719.
On September 15, the Seam reported an average sale price of 80.51 cents for 2,380 bales of cotton. Meanwhile, the Cotlook A index decreased by 150 points, landing at 96.15. ICE certified cotton stocks dropped by 532 bales to a total of 37,930 bales, while the Adjusted World Price fell to 69.51 cents per pound, down 441 points from the previous week.
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