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On December 1, cotton futures showed a steady decline, with December contracts closing down 6 points at 62.77 cents per pound. The online auction reported the sale of 6,106 bales at an average price of 60.03 cents/lb. The Adjusted World Price was updated to 50.77 cents/lb, reflecting a decrease of 3 points from the previous week.
Crude oil futures fell by 73 cents to $58.59 per barrel, and the US dollar index declined by $0.102 to 99.260. As of October 21, managed money reduced their net short position by 98 contracts, now holding 81,245 contracts.
ICE certified cotton stocks decreased by 450 bales, bringing the total to 19,894 bales. The Cotlook A Index rose by 10 points to 75.05 cents.
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