ICE cotton futures market slumps

ICE cotton futures market slumped, with long positions rolling to Mar and May contracts. Contract of Dec closed at 78.86cent/lb, down 4cent/lb and contract of Mar closed at 81.75cent/lb, down 4cent/lb. US cotton in Texas and the Southwest has entered peak harvest, while other regions were in the early harvest stage; good-to-excellent ratio of the crops held steady.

Cotlook A Index rose by 0.1cent/lb to 93.35cent/lb.