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Cotton holds losses after USDA reduces global inventory outlook

Cotton futures on ICE maintained losses on Tuesday after the U.S. government on Wednesday reduced its forecast for world inventories this crop year as lower output offset weaker demand.

Cotton
Agweek file photo.

Cotton futures on ICE maintained losses on Tuesday after the U.S. government on Wednesday reduced its forecast for world inventories this crop year as lower output offset weaker demand.

The front-month May contract on ICE Futures U.S. was down 0.52 cent, or 0.9 percent, at 56.35 cents per lb by 12:08 p.m. EST (1708 GMT) after the report.

The U.S. Department of Agriculture (USDA) left the U.S. supply-demand forecast unchanged for the 2015-16 crop year through end-July. 

Related Topics: COTTONCROPS
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