ICE May cotton contract slips

ICE May cotton contract slipped. Contract of May closed at 90.77cent/lb, down 2.64cent/lb and contract of Jul closed at 91.44cent/lb, down 2.42cent/lb. Planting intention report is awaited. Market players consider that the planting areas may be higher than market anticipation, which may weigh on cotton prices.

Cotlook A Index rose by 1.05cent/lb to 97.95cent/lb.