ICE May cotton contract inches down

ICE May cotton contract inched down. Contract of May closed at 94.90cent/lb, down 0.33cent/lb and contract of Jul closed at 94.34cent/lb, down 0.25cent/lb. ICE cotton continued to consolidate at high level. The supply and demand contradiction remained obvious and the market might not be very bearish.

Cotlook A Index reduced by 1.0cent/lb to 100.2cent/lb.