ICE cotton futures market goes lower

ICE cotton futures market went lower. Contract of Jul closed at 77.06cent/lb, down 1cent/lb and contract of Dec closed at 75.31cent/lb, down 0.66cent/lb. According to USDA, about 24% of cotton crops was planted in the United States by the week ending May 5, up 9% from previous week and 4% from the same period of 2023.

Cotlook A Index did not update on Monday.