Cotton futures slip on profit-taking, dollar surge

By admin       2016-07-25

ICE cotton futures settled lower on Friday, registering their biggest weekly fall in more than five weeks, on end of the week profit-taking and a stronger dollar. "Some of the Chicago grains like soybean were down, that was a little bit negative in a peripheral way," said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie, Georgia.The December cotton contract on ICE Futures US settled down 0.29 cent, or 0.40 percent, at 72.68 cents per lb. It traded within a range of 71.86 and 73.46 cents a lb. The dollar index was up 0.46 percent. The dollar index rose to a more than four-month high on Friday. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was down 0.42 percent. Chicago Board of Trade (CBOT) November soybean futures settled down 24-1/4 cents at $9.88-1/4 a bushel.

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