Cotton Futures Were Mixed By &Nbsp, Because Investors Were Gasping For A Slight Drop In Cotton Prices.
According to the news from New York, cotton futures on the Intercontinental Exchange (ICE) were mixed on Friday. Analysts said the cotton market appeared to be stable after the commodity prices plummeted in the past few days.
"Cotton is trying to stabilize," said Mike Stevens, independent cotton analyst.
Stage cotton
It is stabilizing, but buying Xing on Friday is very low. "
Index ICE the cotton contract in July fell 1.30 cents, the settlement price was 1.4556 dollars per pound, and the intraday trading range was between 1.438 and 1.491 dollars.
Data show that this is the lowest cotton settlement price in nearly four months.
The new cotton contract in December rose 0.21 cents to 1.2229 dollars per pound.
According to preliminary data, the turnover is about 12000 hands, which is about 50% lower than the 30 day regular turnover.
Traders said investors took off their positions in the July contract, because the supply of old products had not actually been available, investors turned to December contracts, and producers would set prices for the upcoming 2011/12 cotton.
Dealers also said that the December contract
Consumer
Demand began to appear and support the market.
Analysts say the market will pay attention to China next week.
Cotton processing
Clues to buying willingness.
According to the data provided by the ICE, as of May 5th, the cotton futures market's open positions fell to 148291, the lowest in October 2009, and 149172 in the previous trading day.
According to the data provided by the Intercontinental Exchange, as of May 5th, the turnover was 10679 hands, the previous day was 10679 hands.
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