ICE cotton declines first and then rebounds

ICE cotton futures market declined and then rebounded. Contract of Dec closed at 63.51cent/lb, down 0.08cent/lb and contract of Mar closed at 65.09cent/lb, down 0.17cent/lb. Brazilian cotton exports have accelerated, and while China has cotton quotas available, the digestion of these quotas has been slow due to expectations for U.S. cotton imports.

Cotlook A Index reduced by 0.35cent/lb to 74.95cent/lb.