On Wednesday, cotton prices increased by 39 to 48 points after a decline on Tuesday, where futures dropped by 72 to 84 points. The rise in cotton prices comes despite pressure from the synthetic market, as crude oil futures fell by $1.65 to $55.17 per barrel and the US dollar index rose by $0.038 to 97.995.
In an online auction on Monday, The Seam reported sales of 15,641 bales at an average price of 59.57 cents per pound. As of December 15, the Cotlook A Index decreased by 10 points to 73.85 cents, while ICE certified cotton stocks saw a reduction of 1,497 bales, totaling 12,474 bales. The Adjusted World Price was updated to 50.39 cents per pound, a drop of 89 points compared to the previous week.
