Cotton futures are trading 4 to 13 points lower as we head into the holiday weekend. They posted triple digit gains in most nearby contracts on Thursday. All upland cotton old crop export sales of 326,520 RB were reported by the USDA. That was larger than expectations, as sales rose 25.75% from last week and were 18.02% larger than this time in 2016. Shipments of upland cotton were 148,200 RB, lagging this time last year by 29.5% and 11.03% lower than last year. Total commitments are now 32.8% larger than this time in 2016. The USDA Adjusted World Price was updated to 68 cents/lb, 205 points higher than the previous week. The Cotlook A index was 20 points lower from the day prior on December 20 to 85.75 cents/lb.

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