ICE Cotton Review July 2Nd: Cotton Expands To Drop &Nbsp; Economic Data Is Weak.

　　 Friday (7.02) ICE us Stage cotton Benchmark cotton futures continue to fall behind other markets, such as the stock market. A series of economic data released this week has worried market participants.

ICE US cotton futures benchmark fell 0.92 cents, or 1.2%, to 75.53 cents per pound in December.

Luis Anna Demandeville independent cotton analyst Mike Stevens accused this week that China and the United States accumulated a series of economic reports, resulting in a weak market. These reports include two countries' purchasing managers' index, US consumer confidence and the US Conference Committee's report on China's leading economic index.

A dealer said Friday the US employment report. Weak from fatigue It has expanded the cotton market in the near future. Decline 。

In June, the number of non agricultural employment decreased by 125000, but the market was expected to decrease by 110000, but the result was somewhat contradictory because the unemployment rate was basically a temporary census worker, while the number of private enterprises employed increased.

In addition to most of the weak economic data, the US Department of Agriculture reported this week that cotton planting area is 10 million 900 thousand acres, larger than 10 million 510 thousand acres reported in March, 19% higher than the 9 million 150 thousand acreage in 2009. This indicates that the US cotton supply will increase this year.

Stevens said that one thing after another appeared, all of them had an impact on the cotton market.

This week, cotton loss in October was 4.3%.

Peter Egger Lee, risk management director of Phoenix cotton and cotton company, said that the recent weak economic data and the downside of the external market, such as the stock market, have led to the reluctance of speculators to do more and even sell their positions in the near future. At the same time, he said textile mills and cotton traders may not be willing to act as buyers before the cotton falls below 75 cents.

Stevens pointed out that before the benchmark cotton did not break through the key technical support areas, Thursday's 75.17 cent (three week low point) was only one step away from the 200 day average moving average 74.97 cents, while the trend line from February to June is now at around 75.40 cents below the interval.

The July contract rose 0.42 cents to 81.64 cents a pound. Due to the small volume and empty volume, the July contract is in the delivery period, so the market participants do not pay much attention to the July contract dynamics.

According to Informa's economic forecast, the next year's cotton output in the United States is 18 million 644 thousand bales. The US Department of agriculture will release its first estimate at the end of next week.

The exchange reported that on Thursday, the ICE cotton day inventory was reduced by 4410 (500- pounds) to 349801 packets and 814 packages to be certified.

The exchange reported that on Thursday, the ICE cotton volume decreased by 1520 parts to 162668 parts of the total volume.

The exchange reported that at 2:30 p.m. Eastern time on Friday, about 11727 hands were traded on cotton. The options traded on the site are about 2576 hands, and the put option is about 1392 hands.

Closing price range

07 months 81.64c + 0.42c 81.64c-82.87c; December 75.53c - 0.92c 75.40c-76.87c