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Cotton prices increased by 30 to 42 points, with futures gaining 9 to 16 points on November 20. The US dollar index rose $0.022 to $100.135, while crude oil futures climbed $0.83 to $58.89 per barrel. The USDA’s latest Crop Progress report indicates the US cotton crop is 79% complete, slightly below the 80% average.
In the November 20 online auction from The Seam, 4,368 bales were sold at an average price of 60.77 cents per pound. The Cotlook A Index remained unchanged at 74.00 cents as of November 21, with ICE certified cotton stocks steady at 20,344 bales. On November 16, the Adjusted World Price was updated to 50.80 cents per pound, a decrease of 103 points from the previous week.
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