US Department Of Agriculture Export Report Bad Cotton Price Fell Three Times

U.S.A Ministry of Agriculture USDA export Sales Report Strong and bad will be a drag. market Continue the downtrend, while also on the southern hemisphere. cotton The fear of listing also puts pressure on the market.

Comprehensive media reported on April 14th that Intercontinental Exchange (ICE) cotton futures closed 14 days on a three-day basis. The US Department of agriculture (USDA) released a week's report on export sales disappointing. Suppress The cotton market.

ICE cotton contract in May fell 1.31 cents, to close at 1.9604 U.S. dollars / pound, the trading range of 1.9406 U.S. dollars / pound to 1.9788 dollar The former is a low of two weeks.

The cotton contract closed 2.64 cents in July, closing at $1.78 / pound. The new cotton contract in December fell 2.25 cents to 1.3245 dollars / pound.

According to preliminary data from the media, total turnover dropped to 19295 hands, which was about 1/4 lower than the 30 day regular turnover.

USDA, the US Department of agriculture, said its output dropped by 96300 in the current quarter, and the net sales in 2011/12 were 165800 packages, far below the 250000 to 325000 packages that dealers expect.

Independent analyst Stevens (Mike Stevens) said that the cancellation of exports continued to highlight cotton prices above $2 / pound enough to curb demand.

Traders also say that the market is worried that more cotton in main southern hemisphere cotton growing countries such as Australia, Brazil and Argentina will enter the market.