Cotton Slipping Back on Thursday Morning

Group 1 - Cotton prices decreased by 2 to 6 points across most front months on Thursday, following a previous increase of 25 to 30 points in the front months on Wednesday [1] - Crude oil futures rose by 71 cents per barrel, closing at $58.96, while the US dollar index fell by $0.578 to $98.620 [1] - Commitment of Traders data indicated that managed money reduced their net short position by 3,453 contracts, bringing the total to 60,329 contracts as of November 10 [1] Group 2 - An online auction from The Seam on Tuesday reported sales of 6,299 bales at an average price of 59.38 cents per pound [2] - The Cotlook A Index decreased by 25 points to 73.70 cents on December 9, while ICE certified cotton stocks remained steady at 13,971 bales [2] - The Adjusted World Price was updated to 51.28 cents per pound, reflecting an increase of 51 points from the previous week [2] - Cotton futures for Mar 26 closed at 64.12 (up 26 points), May 26 at 65.17 (up 25 points), and Jul 26 at 66.16 (up 25 points), with current decreases of 6, 4, and 3 points respectively [2]