9 ICE Cotton Comment: Cotton Market Following The Influence Of The Stock Market
Monday (3.09) ICE American futures exchange Cotton fell to a 14 week low and related to the stock market. fringe market Instability leads to an interval vibration pattern in the cotton market.
The most active May cotton fell 25 points, at 41.18 cents per pound, the lowest point in the session was 41.08 cents, the recent March contract fell 25 points, 40.01 cents per pound.
Cotton opened in May and slipped in early trading, but found support at 41.44 cents. The highest point in the market climbed to 42 cents, activating trade short energy, buying short, and weak stock market dragging down most markets. The May contract slipped to 41.08 cents, the lowest since November 21st.
Sharon Johnson, senior cotton analyst at the first holy temple group, said the continued weakness of the stock market will soon affect the near future. Cotton price Pressure, but the market may respond to the US Department of agriculture report, indicating where the market will soon hit bottom, and whether it is possible to move up the market.
Another analyst said that in May, cotton support was at a low point of 40.25 cent contract, which may activate the textile mill to buy, thereby playing a supporting role in the market. The cotton resistance in May was 40-44 cents, which is the short trade area.
USDA plans to release its March output and supply and demand report on Wednesday morning.
Monday is the last trading day of the March 2009 contract.
The exchange reported that on Friday, the ICE cotton day inventory increased by 4912 (500 pounds) to 228530 gross packages, equivalent to ICE's weekly inventory and 2259 registered inventory.
The exchange reported that on Friday, ICE's cotton empty volume increased by 163 to 116926 of the total position.
The exchange reported a turnover of about 7662 hands. Option trading, call option is about 565 hands, put option is about 954 hands.
Closing price range 03 months 40.01 -25 40.01-40.01 05 months 41.18 -25 41.08-42.00 07 months 42.39 -9 42.28-43.10 December 46.30 -21 point 46.25-47.02
Editor in chief: Xu Qiyun
- Related reading
- Management treasure | 2019 Summer Clothing Store Clearance Sale Promotion Slogan
- Management treasure | How To Write Advertisements At The End Of The Season? Clothing Clearance Promotion Advertising Slogan
- Management treasure | How To Write Slogans In Promotional Activities Of National Day Clothing Stores? From These Three Aspects
- Fashion shoes | Swarovski X Reebok Club C Brand New Joint Shoe Exposure, Only Do Not Sell!
- Fashion shoes | Adidas Nite Jogger Shoes, White Orange Gray Color Matching, Bottom Moss Password To Seize The Mirror.
- Fashion brand | Naked & Famous X "Dragon Ball Z" New Denim Joint Ride Series Complete Version Released
- News Republic | Sales Of Main Brand GXG Decreased. Online Sales Of Mousse Group Maintained Rapid Growth.
- Fabric accessories | China Textile Federation Delegation Investigates Xuzhou Industrial Textiles Enterprises
- Fabric accessories | Wei Qiao Textile Innovation Management Measures
- Management treasure | How To Share The Skills Of Selling Clothes?
- 9 Cotlook Cotton Outlook Index No Rise Or Fall
- Pakistan Cotton Prices Rose 17% In July February.
- Pakistan Government Formulating Policy According To India Mode To Revitalize Textile Industry
- Australia'S Wool Market Grew 0.3% This Week.
- London Fashion Week Demonstrates The Impact Of Change And Tradition.
- "Water And Cloth Industry" To Create Enterprise Development Engine
- Asia Pacific Leather Exhibition Will Start Soon
- The Fourth Sock Fair Is About To Start.
- 09 Spring Spun Apparel Three Major Exhibitions Will Be Opened Simultaneously.
- Recession Affects Bangladesh's Export Of Labour And Clothing Exports