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Cotton futures experienced losses ranging from 12 to 25 points on Thursday, alongside crude oil prices dropping $1.68 to $66.70 per barrel. The US dollar index also fell by $0.171 to 97.370.
According to USDA Export Sales data for the week ending July 3, there were 75,089 RB of old crop cotton bookings, with 33,600 RB shipped to Vietnam. New crop bookings totaled 81,543 RB, with Bangladesh leading purchases at 23,100 RB. Total sales reached a three-week high of 156,632 RB, despite shipments of 240,899 RB being a decrease from the previous week, though still reflecting a 49.9% increase year-over-year.
As of July 10, Oct 25 Cotton futures stood at 66.11, down 25 points; Dec 25 at 67.66, down 12 points; and Mar 26 at 68.98, down 16 points. The Cotlook A Index also decreased by 60 points to 78.15 on July 9.
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