Cotton futures closed on Friday with nearby contracts falling between 89 and 119 points, marking a weekly decline of 187 points for December. The U.S. dollar index decreased by $1.318 to 98.425, while crude oil futures dropped by $2.09 per barrel.
As of July 29, CFTC data revealed that speculative funds added 482 contracts to their net short position in cotton futures and options, bringing the total to 40,361 contracts. Additionally, The Seam reported sales of 176 bales on Thursday at an average price of 60.50 cents/lb, with the Cotlook A Index down 25 points to 77.95 cents on July 31.
As of July 31, ICE cotton stocks remained steady at 21,617 bales, and USDA’s Adjusted World Price (AWP) decreased by 43 points to 54.52 cents/lb.
