ICE cotton futures tumbled more than 2 percent on Monday, touching the lowest level since November 15 as investors liquidated long positions. The March cotton contract on ICE Futures US hit a session low of 69.53 cents per lb, a bottom since November 15, while recording its biggest daily percentage fall since October 31. "What we are seeing is lot of speculative liquidation...
I think we are seeing the longs throwing in the towel," said Louis Rose, an independent cotton trader and consultant