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On August 4, cotton futures saw the October contract increase by 11 points, closing at 65.7 cents per pound, while December and March contracts dropped by 27 and 23 points, respectively. Cash online sales reported by The Seam totaled just 10 bales with an average price of 59.15 cents per pound.
Additionally, amid threats of increased tariffs on Indian imports of Russian oil, President Trump plans to implement a tariff hike of 25% to 50% starting August 27 if the purchases do not cease. The US dollar index decreased to $98.020, and crude oil futures fell by $0.73 per barrel.
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