ICE cotton futures market goes higher

ICE cotton futures market went higher. Contract of Jul closed at 81.52cent/lb, up 0.62cent/lb and contract of Dec closed at 78.25cent/lb, up 0.94cent/lb. According to USDA, about 15% of cotton crops was planted in the United States by the week ending Apr 28, up 4% from previous week and 1% from the same period of 2023.

Cotlook A Index reduced by 0.08cent/lb to 87.72cent/lb.