ICE cotton declines again to a low

ICE cotton futures market declined again to a low. Contract of Jul closed at 71.74cent/lb, down 0.99cent/lb and contract of Dec closed at 71.65cent/lb, down 0.78cent/lb. USDA has released Jun supply and demand report. 2024/25 global cotton production is raised by 90,000 bales and ending stocks are projected 480,000 bales higher than in May at 83.5 million.

Cotlook A Index rose by 0.75cent/lb to 82.7cent/lb.