Cotton prices sober across markets

The US cotton futures notched its biggest one-day fall in five weeks and hitting two-week lows as investors continued to take profits to multi-month highs earlier in the week. The most-active March cotton contract on ICE Futures US settled down US cents 1.52 per pound week on week.

The Cotlook A index also sobered US cents 0.10 during the week. The China Cotton Index was up 64 Yuan a ton. In India, cotton price changed a little on the either sides as mills and exporters demand remained normal this week. In Pakistan, cotton trading remained low after industrial units in Punjab were kept closed due to electricity and gas suspension. The Karachi Cotton Exchange, however, kept its spot rate unchanged.