ICE Cotton Futures Closed On Third Consecutive Trading Days For 3 Days.

The comprehensive media reported on December 3rd that the ICE futures for cotton futures for 3 consecutive days ended on third consecutive days and was boosted by speculative fund buying. But the turnover was light, and analysts were cautious about whether the rise could be sustained.

ICE cotton contract in March rose 6 cents, triggering a daily limit of 1.3234 dollars / pound, with a low of 1.273 dollars / pound.

Cotton has once again become the best performing -Jefferies commodity index in the past three trading days, and has risen nearly 75% since the beginning of this year.

Cotton rose 18.41% in this cycle.

But from the 29 day, trading volume has been about 50% lower than the 30 day average.

Preliminary data show that the total volume of trading on the 3 day is about 19300 hands, which is about 36100 lower than the average of 30 days and nearly 50%.

Some analysts believe that the fundamentals of the market remain good, and supply will be tight in the first quarter of 2011, as a large proportion of the cotton harvested in the United States has been sold.

U.S. non farm employment data show that the unemployment rate rose to a seven month high, which pushed down the US dollar and boosted commodities.