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Cotton futures experienced losses ranging from 7 to 12 points on Monday, December 4, 2023. In contrast, crude oil futures increased by $1 per barrel, reaching $59.55, while the US dollar index fell by $0.058 to 99.350.
The USDA’s Export Sales report indicated that 132,760 RB of cotton were sold for the week ending October 23, a decrease of 24.43% from the previous week. However, shipments reached a marketing year high of 174,788 RB.
In the November 28 online auction from The Seam, 3,605 bales were sold at an average price of 59.75 cents/lb. The Adjusted World Price was recently updated to 50.77 cents/lb, a drop of 3 points from the prior week. Closing prices for cotton contracts were Dec 25 at 62.83 (down 8 points), Mar 26 at 64.64 (down 7 points), and May 26 at 65.8 (down 12 points).
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