ICE cotton futures closed Friday’s session with weakness, with contracts down 11 to 26 points, while the March contract slipped a total of 48 points over the short week. Crude oil futures declined by 9 cents per barrel to $57.41. The US dollar index rose by 0.123 points to 98.170.

On Wednesday afternoon, USDA released the payment details for the Farm Bridge Assistance program, listing cotton payments at $117.35 per acre.

The Seam’s online auction reported sales of 17,479 bales of cotton on December 31 at an average price of 65.40 cents per pound. The Cotlook A Index was unchanged on Wednesday at 74.30 cents. ICE certified cotton stocks were steady on December 31, with certified stocks totaling 11,510 bales. The Adjusted World Price was updated on Friday morning to 50.76 cents per pound, up 74 points from the previous week. The LDP rate is now 1.24 cents.