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ICE cotton settles higher after losses in last four sessions

07 Mar '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • ICE cotton futures rebounded on Wednesday after a ****-day decline, with gains in May and July futures, which were driven by the Federal Reserve's hinted rate cut and demand from China.
  • May futures rose by *** points, and July futures increased by ** points.
  • Market awaits USDA export and supply-demand reports on March ** and ** for further direction.

Recent demand from China prompted ICE cotton to move up.

May futures settled at **.** US cent per pound with a gain of *** points. It had lost *** points in the last four sessions. After the recovery of *** points, net loss reduced to *** points. July future was traded ** points higher to settle down at **.** US cent per pound. December futures of new cotton increased ** points to settle at **.** US cent per pound.

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