ICE cotton flat as market digests export data

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New York. ICE cotton futures were flat after the USDA reported US cotton net export sales of 152,800 bales for the week ended March 22. While it was a 22% decline vs the previous week, and a sign that demand for US fiber is cooling, even though prices fell below 88c/lb that week, USDA also said shipments of cotton in the week totaled 329,500 bales, which helped counter the sales figures. Cotton for May delivery trades at 94.06c/lb, nearly unchanged.

Source: http://www.moneycontrol.com/commodity/comm_news.php?autono=174187&type=MKT

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