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Cotton Futures Update: On Wednesday, October cotton futures rose by 36 points to reach 65.95 cents/lb, while Dec 25 cotton dipped 10 points to 67.01 cents/lb, and Mar 26 cotton fell by 7 points to 68.35 cents/lb. The Seam reported cash sales of only 10 bales at an average price of 59.15 cents/lb.
Tariff Threats on India: President Trump announced plans to increase tariffs on Indian goods by 25% to 50% starting August 27, contingent upon India’s continued import of Russian oil. This decision follows threats of increased tariffs if India does not cease its Russian oil purchases.
Market Averages: The USDA’s Adjusted World Price (AWP) decreased by 43 points to 54.52 cents/lb. The Cotlook A Index increased by 25 points to 77.75 cents on August 4, while the certified ICE cotton stocks remained steady at 21,617 bales.
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