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Textiles
ICE cotton retreats from one-month high on profit booking
09 Jul '26
3 min read
shutterstock.com
Insights
ICE cotton futures retreated from a one-month high as profit booking and a stronger US dollar weighed on prices.
The December 2026 contract settled at 80.67 cents/lb, though it remained higher for the week.
Rising crude oil prices, weaker US crop ratings, and cautious positioning ahead of key USDA reports helped limit losses, supporting overall market sentiment.
ICE cotton futures retreated from a one-month high on profit booking. A stronger US dollar added pressure on the natural fibre by making US cotton more expensive for overseas buyers. However, a sharp rise in crude oil prices amid geopolitical tensions limited the decline by providing support to the market.
The most active December 2026 contract settled at 80.67 cents down 0.62 cent or 0.76 per cent. The contract remained 355 points higher for the week so far, reflecting strength of the recent uptrend, despite Wednesday’s pullback. December traded in a 149-point intraday range between 79.80 cent and 81.29 cent, with the day's high matching Tuesday's settlement price of 81.29 cent, before prices weakened into the close.
ICE cotton futures retreated from a one-month high as profit booking and a stronger US dollar weighed on prices.
The December 2026 contract settled at 80.67 cents/lb, though it remained higher for the week.
Rising crude oil prices, weaker US crop ratings, and cautious positioning ahead of key USDA reports helped limit losses, supporting overall market sentiment.
Technically, December futures closed above the 10, 20, 40, 50, 100, and 200-day moving averages for the second consecutive session, the first time since March 10, indicating that the longer-term technical structure remains positive despite profit-taking. Market analysts said the market had rallied about 5 cents ov
