ICE cotton futures market rises slightly

ICE cotton futures market rose slightly. Contract of Jul closed at 77.06cent/lb, up 0.32cent/lb and contract of Dec closed at 77.12cent/lb, up 0.39cent/lb. By the week ending May 12, about 33% U.S. cotton crops have been planted, up 9 percentage point from May 5, 2% from the same period of 2023, and 2% from five-year average, according to USDA.

Cotlook A Index reduced by 1.2cent/lb to 85.20cent/lb.