ICE cotton futures rose more than one per cent, supported by a rebound in commodity prices but the natural fiber marked its worst week in nine months amid escalating trade tensions between the United States and China. The most active cotton contract on ICE Futures US, the third-month December contract, settled up 1.01 cent, or 1.2 per cent, at 85.3 cents per lb. It traded within a range of 84.2 and 85.62 cents a lb.

The third month contract fell about five per cent for the week, the biggest weekly decline since mid-September. The US is the world's biggest cotton exporter, while China is the top consumer. Fundamentals remain supportive, apart from the trade dispute. The US crop has been struggling during this planting season and needs to prove itself in the months ahead, while the supply pipeline will be about as tight as it has ever been at the end of summer.

Speculators cut their net long position in cotton by 16,164 contracts to 93,044 in week to June 19. Total futures market volume fell by 4,972 to 18,131 lots. Data showed total open interest fell 3,880 to 261,946 contracts in the previous session. China will probably still have to import more cotton over the coming years, even from the US.