The External Market Is Going Down, And The Fundamentals Are Weak. Cotton Is At A Low Level For 16 Months.

According to New York's December 14th news, US cotton futures closed at a low level for 16 months on Wednesday. market Lower and Fundamentals Fatigued and weak. Analysts say the next few days may be further lower. Global stock markets and the euro are falling, as the market is increasingly worried about Italy's record high lending. cost And the US Federal Reserve (FED) decided not to take any new measures to support economic growth.

The Intercontinental Exchange (ICE) index fell 2.19 cents in March cotton, or 2.5%, at 85.12 cents a pound, with a trading session of 84.35-87.42 cents. On the spot chart, this is the lowest in 8 months of last year. Wednesday's turnover was nearly 13100, compared with a 30 day low of about 40%. Independent cotton analyst Mike Stevens said that investors set the target of March contract at 82 cents, followed by 80 cents.

The basic landscape of cotton was not supported by the USDA's most recent supply and demand report. It is estimated that cotton consumption will be 111 million 340 thousand export packages in 2011/12, and the output will be 123 million 420 thousand export packages, much higher than consumption. According to the exchange data, there were 149446 hands in the cotton market on Tuesday and 141120 on Monday. Intercontinental Exchange data showed that turnover was 11841 hands on Tuesday and 10793 hands on the previous day.