Briefing On Foreign Cotton Market In August 15Th

Friday (8.15) ICE US futures cotton market plummeted, speculators generally sold peripheral commodities, and cotton futures fell below the expected seasonal low.

In the near future, cotton will echo each other in the commodity market, and the US dollar orientation is the key constraint.

The most active December contract fell 240 points, at 67.08 cents per pound, and 202 points in October, at 65.07 cents a pound.

Cotton is slightly lower today, showing a horizontal pattern in early trading.

In December, the highest point in the contract was 69.41 cents, and speculators generally abandoned the peripheral commodities, and the market was frustrated.

The US dollar was strong, and the fund was completely short. In December, cotton futures fell below 68.20 US branches, which was once regarded as the lowest season.

The December contract fell to its lowest level since August 30, 2007, but then repaired some of the declines, trading back to 67.33 cents and 67.50 cents.

In the second quarter, the December contract revisited a new low of 67.01 cents, although the market still suffered a setback despite the decline in the first part of the market.

In the face of the overall pressure from the external commodity market, cotton fundamentals can not support the market in the US cotton growing season.

News, an analyst said that although the new cotton price outlook is favorable for the market, there is a lot of cotton now.

The United States and the world's cotton production was up in August, ending inventory was down, cotton prices strengthened, but the cotton market is still three months away from these favorable factors.

The weather in Western Dezhou is beneficial to the growth of cotton and is not conducive to the cotton market.

Cotton production in Western Dezhou is expected to be 1/3 of the 13 million 770 thousand 2008-09 package in the US.

Cotton will follow the trend of external commodities and become stronger in the US dollar. Energy and metals are the leaders of commodity markets.

In the spot market, the Far East A index (08-09) fell 135 points to 77.90 cents / pound.

The average price of American Cotton (SLM 1-1/16) is 58.94 cents, -2.09 cents, and cotton (1-3/32) average price is 62.26 cents, -2.09 cents.

The seven markets were trading at 11778 packages on the spot, and 44468 spot pactions were made this year.

The average price of spot (SLM -1/16) is 62.69 cents in August 1, 2008, and the lowest price is 58.94 cents in August 15, 2008.