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November 2Nd ICE Cotton Comment: European Debt Crisis Continued &Nbsp; Cotton Market Continuous Cloudy Day

2011/11/3 10:25:00 18

Wednesday (11.02) ICE Intercontinental Exchange in New York cotton Futures continue to go down only because of European debt. crisis Continue to deepen Investment People's worries. The main contract was opened at 99.50 cents in December, the highest 100.70 cents in the market, the lowest 98 cents, finally closed at 98.34 cents, down 1.20 cents, 19695 hands in volume, 77029 hands in the open position; March contract closed at 97.60 cents, down 0.95 cents; May contract closed at 97.48 cents, or 97.60 cents.

Data show that the total turnover of the market on Tuesday exceeds 20 thousand hands, which is about 1/3 higher than the average daily volume of 30. Intercontinental Exchange data show that as of November 1st, the market's open positions were 164904 hands, a record high in April 20th, and the total turnover on Tuesday was 37442 hands, with 25331 hands on the previous day.

Market analysts pointed out that the ICE cotton futures contract closed nearly 6 month high on Friday, but there is no sign of easing the European debt crisis, and investors are worried. The cotton futures positions of the contracts have changed. Technically, the December contract may have a chance to look at the recent lows of 96 cents last week, or even drop to 93 cents and 90 cents.

However, the US stock market closed up today, and the market climbed after two consecutive days. The Fed said the US economy grew in the third quarter, and economic data showed that the situation of private placement increased better than expected in October. The two day Federal Open Market Committee (FOMC) meeting ended on Tuesday afternoon. There has been no major change in the Fed's policy to maintain the 0-0.25% interest rate until mid 2013, and maintain the $400 billion distortion operation and maintain the MBS investment plan. The Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy maker, said in a statement that the economy has improved despite the fact that the US economy is still facing major downside risks.

November 2nd cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 95.96 cents / pound, the highest annual price 110.14 cents in September 14, 2011; the lowest price in October 20, 2011 94.19 cents; 1 3/32" cotton (color 31, leaf cuttings 3, fiber 35) average price 99.44 cents / pound.

In November 2nd, 4571 cotton bags were sold in the spot market, and 144025 bags were sold this year. 89246 bags were sold during the same period last year.

The total inventory of NY certification in November 1st is 32569 packages, and 3124 bags are to be certified.

October 28th -11 03, global adjustment price (AWP) 87.40 cents / pound.

In November 2nd, the Cotlook cotton Outlook Index plummeted, and the A index fell 215 points to 108.85 cents / pound.

In November 2nd, China's cotton price index CC Index 328 weighted average price of 19327 yuan / ton, down 54 yuan. CC Index 527 closed at 16831 yuan / ton, down 10 yuan, and CC Index 229 closed at 20722 yuan / ton, down 48 yuan.

In November 2nd, China's cotton import price index (FC Index M) was 113.28 cents, down 2.11 cents.

In November 2nd, Zheng cotton index edged up 70 points to 20292, trading volume slightly enlarged to 144 thousand hands yesterday, holding 15 thousand to 336 thousand hands. The main force rose 1205 to 65 to 20305, trading 133 thousand hands, holding 14 thousand to 239 thousand hands.

In November 2nd, the PTA main force opened 1201 in 8200, the highest 8398 in the day, the lowest 8172, ending at 8396, up 18 yuan / ton compared with the previous day's average price. 1190162 hands traded during the day, holding 25726 to 281188 hands.

In November 2nd, the Dow Jones industrial average rose 178.08 points, closing at 11836.04 points, or 1.53%; the Nasdaq composite index rose 33.02 points to 2639.98 points, or 1.27%; the standard & Poor's 500 index rose 19.63 points, or 1237.91 points, or 1.61%.

In November 2nd, gold futures on December, which was traded on the New York Mercantile Exchange (NYMEX) commodity exchange (COMEX), rose $17.80, or 1%, at $1729.60 an ounce, hitting a high of 1745.60 US dollars per ounce.

In November 2nd, the New York Mercantile Exchange (NYMEX) delivered light crude oil futures in December, up 32 cents, or 0.4% at $92.51 a barrel.

ICE US cotton futures closing November 2nd