ICE cotton fell in light volume on Thursday after a weekly export sales report came in largely in line with market expectations and traders held back as the market approached a key technical level with the potential to attract new buyers. The front-month May cotton contract on ICE Futures US dipped 0.08 cent, or 0.1 percent, to settle at 63.08 cents a lb.
The US Department of Agriculture's (USDA) weekly export sales report showed new sales of 177,600 bales in the week ended March 19, well ah
ICE cotton fell on Wednesday as a US government report showed an increase in cotton ginnings from the prior reporting period, and as a run-up in prices late last week and early this week drove buyers out of the market. The front-month May cotton contract on ICE Futures US fell 0.75 cent, or 1.2 percent, to settle at 63.16 cents a lb.
The US Department of Agriculture (USDA) released a report showing that 16.31 million bales of cotton had been ginned in the United States this crop year, up sligh
Strong demand for quality lint kept prices on the higher side on the cotton market on Tuesday. However, short supply coupled with lack of interest from ginners to dispose of stocks at current price level kept activity limited.
Floor brokers said that fast-depleting stocks with ginners and delay in arrival of next crop are creating panic among spinners who are eager to build up their stocks.
The spinners kept offering higher prices but ginners preferred to hold back their stocks in anticipa
