ICE Cotton Futures Market Extends Downswing
ICE cotton futures market extended downswing. Cotton contract of July closed at 87.38cent/lb, down 3.15cent/lb and contract of Dec closed at 87.99cent/lb, down 1.65cent/lb. By the week ending Jun 17, good-to-excellent ratio of U.S. cotton crops was 38%, down from previous week's 42% and previous year's 61%.
Cotlook A Index declined by 2.60cent/lb to 98.85cent/lb.
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