Cotton futures closed Friday with contracts 3 to 13 points higher, as December slipped back 8 points on the week. Crude oil futures were 35 cents/barrel to $61.44, with the US dollar index up $0.021 to $98.750.
President Trump and China’s President Xi are expected to meet in South Korea on Thursday. Talks at lower levels are taking place this week, with Secretary Bessent meeting with counterparts this weekend. The US also has launched an investigation into the Chinese compliance with the Phase One trade deal from 2020.
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The Thursday online auction from The Seam showed 832 bales sold with an average price of 65.00 cents/lb. The Cotlook A Index was back down 55 points on 10/23 at 75.30 cents. ICE certified cotton stocks were steady on October 23, with the certified stocks level at 17,552 bales.
Dec 25 Cotton closed at 64.2, up 13 points,
Mar 26 Cotton closed at 65.71, up 4 points,
May 26 Cotton closed at 66.95, up 3 points
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