ICE Cotton No. 2

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The ICE U.S. Cotton No. 2 contract is the benchmark contract for the global cotton trading community. The contract prices physical delivery of US-grown, exchange-grade product with grading performed by the U.S. Department of Agriculture, in store in exchange licensed warehouses in any of five US locations.

ICE Cotton No. 2 futures and options trade both by open outcry and by electronic trading on the ICE platform.


Uses for cotton include textiles, home furnishings, and other industrial uses such as medical supplies.

U.S. textile mills presently consume approximately 7.6 million bales of cotton a year. Eventually, about 57% of it is converted into apparel, more than a third into home furnishings and the remainder into industrial products.[1]

Data Quotes

ICE offers data quotes on a subscription basis.[2]

Contract Specifications

Cotton No. 2 futures
Exchange ICE
Settlement Physically delivered
Contract Size 50,000 pounds net weight
Pricing Unit Point value is $5.00 i.e. - a one point move on the contract represents $5.00 USD or a 100 point move = $5.00 USD per bale.
Tick Value Need tick value!
Contract Months March, May, July, October, December
Last Trading Day Seventeen business days from end of spot month.
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 01:30 to 15:15 Eastern Time
Ticker Symbol N/A outcry =

ooHours = 10:30 to 14:15 Eastern Time; closing period commences at 14:14 Eastern time

Price Limits N/A Limit is 3 cents above or below previous day's settlement price. However, if any contract month settles at or above $1.10 per pound, all contract months will trade with 4 cent price limits. Should no month settle at or above $1.10 per pound, price limits stay (or revert) to 3 cents per lb. Spot month - no limit on or after first notice day.


  1. Cotton's Major Uses.
  2. The most valuable commodity is information. ICE.