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Cotton futures closed on October 22 with contract gains ranging from 25 to 33 points. The December 25 cotton contract ended at 64.07 cents/lb, up 33 points, while March 26 closed at 65.67 cents, gaining 25 points, and May 26 at 66.92 cents, up 27 points. The Wednesday online auction from The Seam reported 832 bales sold at an average price of 64.10 cents/lb.
Additionally, crude oil increased by $3.25 per barrel, influenced by escalating U.S. sanctions on Russian oil firms and reduced purchases by Chinese buyers. The U.S. dollar index rose by $0.037 to 98.710. ICE certified cotton stocks remained steady at 17,552 bales as of October 22, although the Average Weighted Price (AWP) is not being reported due to the government shutdown.
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