ICE cotton futures market rallies

ICE cotton futures market rallied. Contract of Mar closed at 92.60cent/lb, up 1.41cent/lb and contract of May closed at 93.23cent/lb, up 1.54cent/lb. The panic decline has not continued and the lowest level has not reached 90cent/lb. In short, ICE cotton may be range-bound.

Cotlook A Index reduced by 2.3cent/lb to 99.3cent/lb.