ICE cotton futures market declines again

ICE cotton futures market declined again. Contract of Dec closed at 66.17cent/lb, down 0.47cent/lb and contract of Mar closed at 68.11cent/lb, down 0.45cent/lb. The U.S. Dollar Index rebounded, and Federal Reserve Chair Jerome Powell struck a cautious tone on the interest rate outlook, leading to declines in most U.S. agricultural commodities. ICE cotton hovered around 66cent/lb, and pay attention to the USDA's Oct supply and demand report and Brazilian and U.S. sales condition.

Cotlook A Index rose by 0.3cent/lb to 78.15cent/lb.