ICE May cotton contract fluctuates down slightly

ICE May cotton contract fluctuated down slightly. Contract of May closed at 95.06cent/lb, down 0.22cent/lb and contract of Jul closed at 94.34cent/lb, up 0.42cent/lb. According to USDA, 2023/24 U.S. cotton ending stocks lowered to 2.5 million tons, and the possibility of supply shortage was still increasing.

Cotlook A Index reduced by 3.35cent/lb to 101.6cent/lb.