ICE cotton futures market largely higher

ICE cotton futures market was largely higher. Contract of Dec closed at 72.44cent/lb, up 1.17cent/lb and contract of Mar closed at 74.26cent/lb, up 1.16cent/lb. By the week ending Jul 14, 64% of the crops was squaring, up 12% from previous week, up 3% from a year ago, 1% from five-year average, according to USDA. Crop condition was 11 percent very poor, 12 percent poor, 32 percent fair, 37 percent good and 8 percent excellent. The good-to-excellent ratio was steady compared to previous week.

Cotlook A Index rose by 0.3cent/lb to 81.8cent/lb.