Cotton futures closed the Thursday session with contracts 25 to 33 point gains. Crude oil was up another $3.25/barrel, following increasing US sanctions on Russian oil companies and reports that Chinese buyers are limiting purchases. The US dollar index was up $0.037 to $98.710.
The Wednesday online auction from The Seam showed 832 bales sold with an average price of 64.10 cents/lb. The Cotlook A Index was back up 25 points on 10/22 at 75.85 cents. ICE certified cotton stocks were steady on October 22, with the certified stocks level at 17,552 bales. The AWP is still not being reported due to the government shutdown.
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Dec 25 Cotton closed at 64.07, up 33 points,
Mar 26 Cotton closed at 65.67, up 25 points,
May 26 Cotton closed at 66.92, up 27 points
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