Cotton Futures Surge Before Christmas

Cotton futures surged before Christmas, with March, May, and July contracts closing higher. Crude oil also rose, and the US dollar index increased. Export sales were down, missing USDA projections. The Seams online auction moved 24,874 bales at an average of 59.80 cents per pound. ICE certified cotton stocks decreased, and the Adjusted World Price dropped. Markets will reopen after Christmas, with gains to be watched.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.