By admin       2018-03-09

ICE cotton futures market rose on favorable USDA supply and demand report. In the report, U.S. cotton forecasts show lower production, higher exports and lower ending stocks compared to last month. Ending stocks are lowered 500,000 to 55.5 million bales, and exports are raised 300,000 to 14.80 million bales. Production is reduced 230,000 to 21.03 million bales. Cotton contracts for May closed at 84.93 cents per lb, up by 2.35% and Jul contract closed at 84.41 cents per lb, up by 2.12%. Cotlook A Index rose by 0.30cents to 92.20cent/lb.

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