ICE cotton futures market declines

ICE cotton futures market declined. Contract of Dec closed at 71.27cent/lb, down 0.89cent/lb and contract of Mar closed at 72.99cent/lb, down 0.70cent/lb. U.S. Fed reduced the target for its key lending rate by 0.5 percentage points, which met market expectations and ICE cotton moved lower after large rebound previously.

Cotlook A Index reduced by 0.7cent/lb to 83.75cent/lb.