Keep Up With Cotton Price Rise &Nbsp; Cotton Futures Are New High.
Following the first day of November,
cotton
(30100690.00,2.35%) the 1105 contract of futures main contract reached a new high of 28900 yuan / tonne yesterday.
In the past two months, cotton prices have surged to a record high of ten thousand yuan per ton.
For cotton prices clearly deviated from the rise in value, analysts believe that this is not enough for supply, new cotton listed time has been postponed compared with previous years, resulting in a longer period of this year, and more hot money in the market, inflation and other factors.
However, in the light of the current situation, with the gradual improvement of the short-term supply and demand relationship, cotton prices will come down in mid November after the high point, and will start a concussion market.
As the source of the surging price of domestic varieties, the price of international cotton has also hit a new high since the end of September.
The International Cotton Advisory Committee (ICAC) said on Monday that global cotton prices reached record highs in October, and the volatility in the first three months of the new crop season also reached record levels.
ICAC's secretariat said in a report that the Cotlook A index set a record of $1.47 a pound, higher than the previous high of $1.19 a pound in April 1995.
The average price in October was $1.27 per pound, up 89% from October 2009.
ICAC points out prices for 8-10 months in 2010
Volatility
The average is 57%, much higher than 11% of the same period in 2009/10.
"This is the highest level of volatility in the first three months of the crop year since the first Cotlook A index was published in 1960s."
ICAC said.
Cotton prices are rising worldwide.
Stock
Tight demand coupled with continued high demand.
ICAC said flooding in Pakistan led to a decline in domestic production, and China's output was lower than expected, which also affected cotton prices.
ICAC said global cotton stocks remained tight in 2010-2011 as production and factory usage increased.
ICAC estimates that the Cotlook A index for 2010/11 is US $0.92 per pound, 18% higher than the previous crop year, and the highest level since 1994-1995.
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