International Cotton Market Consumption Is Less Than &Nbsp; US Cotton Stocks Or Rising.

In December 6th, ICE cotton futures continued to rise, hitting the biggest increase since hitting a new low last week.

The strength of most commodities and US stocks has created a good market atmosphere. The US dollar index has failed to rise, and the closing price has not changed much.

At present,

This weekend, USDA will announce a new global cotton production and storage forecast. Fu Stone Company believes that the adjustment made by USDA will not affect the pattern of cotton price weakness and shock. Compared with last month, the specific forecast for the cotton and cotton production and sales situation is as follows: output will end with harvest and processing inspection, and the output of US cotton will remain at 3 million 549 thousand tons.

In fact, from the past 4 months, the adjustment of USDA to US cotton production has been within 65 thousand tons, and this is likely to be down by 22 thousand tons.

Consumption has not been improved due to the factory's demand for cotton. USDA is expected to last 8 months to maintain 827 thousand tons forecast, but there is still possibility of change in the future.

The bright spot of the monthly volume of export volume is likely to appear in the change of US cotton export volume.

Compared with 6 months ago, USDA has cut more than 43.5 tons of export volume. Even now, the forecast of 2 million 460 thousand tons is still too optimistic.

For the market, whether China will continue to buy will become the main factor that can shake the trend of cotton prices. For the moment, USDA may again cut the export volume of US cotton to 2 million 417 thousand tons, down 22.8% from the same period last year, and it is the lowest level in the past ten years.

The end inventory will be increased by 22 thousand tons to 849 thousand tons, due to the adjustment of market demand, so the final inventory may be the highest level in three years. At the same time, the inventory consumption ratio is also expected to rise. For cotton prices, it may continue to be vulnerable in the near future.