ICE cotton futures market moves sideways

ICE cotton futures market moved sideways. Contract of Dec closed at 71.05cent/lb, up 0.07cent/lb and contract of Mar closed at 72.50cent/lb, up 0.13cent/lb. According to USDA, by the week ending Jul 7, the good-to-excellent ratio of U.S. cotton crops continued to drop to 45%.

Cotlook A Index reduced by 1.25cent/lb to 81.5cent/lb.