ICE cotton futures market edges lower

ICE cotton futures market edged lower. Contract of Dec closed at 82.46cent/lb, down 0.11cent/lb and contract of Mar closed at 84.05cent/lb, down 0.08cent/lb. Commodity prices were dragged lower by the crude oil price. Drought conditions have eased across major U.S. cotton?growing areas. Nevertheless, exceptionally dry weather stretching from eastern Texas down to the lower Mississippi Valley has fuelled renewed weather?related worries, and the good?to?excellent crop rating for U.S. cotton has slipped.

Cotlook A Index rose by 0.9cent/lb to 93.70cent/lb.