Cotton futures slipped 11 to 21 points during Thursday morning trading. The market had previously seen gains on Wednesday, with front-month contracts rising 104 to 106 points. Meanwhile, crude oil prices fell $1.41 per barrel to $68.09, and the U.S. dollar index edged up 0.243 to 101.200.
The July 4th Independence Day holiday on Friday will lead to a three-day weekend. Markets will resume normal operations Sunday evening.
The Cotlook A Index remained flat on Tuesday at 85.30 cents. ICE-certified cotton stocks stayed steady at 185,034 bales as of June 30. The Adjusted World Price rose 151 points last week to 63.88 cents per pound and is set for an update on Thursday.
July 26 Cotton closed at 73.28 (up 106 points, unchanged in early trading). December 26 Cotton settled at 77.84 (up 104 points, down 11 points). March 27 Cotton closed at 79.19 (up 105 points, down 19 points).
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