ICE Futures US said trading in the cotton options market was halted on Thursday after the price of cotton in the options ring hit its daily limit twice. "The cotton options market halted trading at 1:16 pm (1716 GMT) because it went double limit up, per the ICE Futures US rules," an exchange official said. The daily trading limit in cotton is now at 4.00 cents.
Double limit would mean a move of 8.00 cents and the options price of the key December cotton contract was at an all-time record of $1.1887/lb. Cotton futures continued to trade, with December up the 4.00 cent daily limit at $1.1487/lb at 1:52 pm.