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Cotton futures closed higher on Thursday, with contracts rising by 26 to 33 points. The strength in cotton prices came despite a decline in crude oil futures, which fell by $1.17 per barrel on the day. Meanwhile, the U.S. dollar index remained stable.
Market Activity and Data
On January 22, The Seam reported 6,265 bales of online cotton sales at an average price of 60.91 cents per pound. ICE cotton stocks remained unchanged on Monday, holding steady at 218 bales of certified stocks.
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The Cotlook A Index saw an increase of 5 points on January 22, closing at 78.10 cents per pound. However, the USDA Adjusted World Price (AWP) dropped by 27 points, settling at 53.71 cents per pound on Thursday afternoon. This marks a slight decline from the previous week.
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