ICE Cotton Moves Lower after USDA's May Report
ICE cotton futures market moved lower after USDA released the latest supply and demand report.
Cotton contracts for Jul closed at 84.48 cents per lb, down 1.39 cents per lb and Dec contract closed at 80.02 cents per lb, down 0.52 cents per lb. In USDA's May report, world 2018/19 cotton production is expected to fall marginally, as areas decline 1%. Lower production is mainly in the United States, Australia and China.
Cotlook A Index rose by 0.40cent/lb to 94.35cent/lb.
$1=CNY6.35
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