ICE cotton futures closed Friday's session with losses of 5 to 30 points, with the December contract down 104 points for the week. Crude oil was up by $2.10 per barrel to $68.67, while the US dollar index rose $0.233 to 97.555.

USDA’s monthly balance sheet update showed US cotton exports raised by 300,000 bales to 11.8 million bales, tightening ending stocks by the same amount to 4.1 million bales. For the new crop, production offset the carryover drop, with a 600,000 bale increase due to larger acreage—harvested area is now estimated at 8.66 million acres and production at 14.6 million bales. Yield was lowered by 11 lbs/acre. However, increased supply pushed the projected carryover up by 300,000 bales to 4.6 million.

Friday’s CFTC report showed managed money increasing their net short position in cotton futures and options by 3,180 contracts, reaching 46,090 contracts as of July 8.

The Cotlook A Index was up 45 points on July 10 at 78.60. ICE certified cotton stocks were down 14 bales via decertification, standing at 35,333 bales. USDA’s Adjusted World Price (AWP) was lowered by 63 points on Thursday to 54.71 cents per pound.