ICE cotton prices rose due to crop concerns following Hurricane Francine in US cotton-growing areas and a rise in crude oil prices.
December contract settled at 69.61 cents per pound, gaining 2.05 per cent.
Increased crude oil prices supported polyester, a cotton substitute.
The hurricane’s impact on unharvested cotton may affect its quality and quantity.
December contract settled at 69.61 cents per pound, gaining 2.05 per cent.
Increased crude oil prices supported polyester, a cotton substitute.
The hurricane’s impact on unharvested cotton may affect its quality and quantity.