ICE Cotton Futures: Market Consolidation On The Eve Of Monthly Report

Thursday (8.09) ICE New York Cotton futures The contract in October was opened at a low price of 75.12 cents, with the highest of 76.20 cents and the lowest of 75.12 cents, and finally closed at 75.59 cents, up 0.09 cents from the previous trading day; The main December contract opened at a low price of 75.80 cents, with the highest of 77.07 cents and the lowest of 75.45 cents, and finally closed at 75.95 cents, down 0.05 cents from the previous trading day. The trading volume was 11302 hands, and the open position was 132967 hands; The contract in March 2013 closed at 76.65 cents, down 0.21 cents from the previous trading day.

As the market expected that the US Department of Agriculture would release the monthly supply and demand report for August tomorrow morning, the cotton market closed almost unchanged today. The dry weather, the expected tight supply of cotton in the United States, and the delayed Indian monsoon will affect the output. These factors will support the cotton price. However, low consumption is still a problem. Sharon Johnson of Knight Futures said that because the per capita cotton consumption in the United States is the largest, the financial situation of American consumers is crucial to the global cotton consumption. Today, December cotton closed 0.1% lower at 75.95 cents/lb.

Prior to the session, the US Department of Agriculture reported that in the week ended August 2, US cotton had sold 109900 standard export bales, including 20700 bales sold by the world to China, the world's largest cotton consumer and importer. Independent analyst Mike Stevens said that the sales figures were excellent. Although the world demand is still low, the demand for American cotton is very good. He said that the reason for the good demand for American cotton is that American cotton prices are very competitive.

Today, major US stock indexes ended mixed. The US Labor Department reported that the number of people applying for unemployment benefits for the first time fell by 6000 last week to 361000. In addition, the Commerce Department reported that the US trade deficit in June decreased by 10.7%, which is good news for the GDP in the second quarter. However, the decline of the euro against the US dollar offset the impact of better than expected trade and employment data on the market. Data released by China on Thursday showed that industrial output fell for the third consecutive month in July, but the inflation rate fell to the lowest level in two and a half years. The above data triggered speculation that the People's Bank of China will take more measures to stimulate China's economic growth. US exports to China fell by 4.3% in June. China used to be one of the fastest growing export markets of American goods. In the first half of the year, American exports to China increased by 6.7% year on year.

August 9 cotton The average price of slm 1-1/16 "cotton (color 41, leaf chip 4, fiber 34) in the spot market is 71.42 cents/pound, with the annual highest price of 71.42 cents on August 9, 2012; the annual lowest price of 65.79 cents on August 1, 2012; and the average price of 1 3/32" cotton (color 31, leaf chip 3, fiber 35) is 76.23 cents/pound.

On August 9, 2438 bales of upland cotton were sold in the US spot market, and 11963 bales were delivered this year. 942 packages were sold in the same period last year.

On August 8, NY certified 30526 packages of inventory, and 0 package of inventory to be certified.

On August 9, Pima cotton was sold in the US spot market at 116.00 cents/pound for Grade 2 (fiber 46), 98.00 cents for Grade 3 (fiber 44), and 103.00 cents for Grade 3 (fiber). There were no bales of Pima cotton, and 170 bales of Pima cotton were sold annually.

The USDA announced that the global adjusted price (AWP) from August 3 to August 9 was 61.38 cents.

On August 9, the Cotbook cotton outlook index rebounded, and the A index rose 50 points to 85.90 cents/lb.

On August 9, China's cotton price index CC Index 328 closed at 18359 yuan/ton, up 9 yuan. CC Index 527 closed at 16037 yuan/ton, up 2 yuan, and CC Index 229 closed at 19428 yuan/ton, up 3 yuan.

On August 9, China's import cotton price index (FC Index M) was 89.58 cents, up 0.59 cents. The standard tax price was converted to 15178, and the difference with the cotton price was 3181 yuan/ton.

On August 9, Zhengzhou PTA1301 contract opened at 7700 yuan/ton and closed at 7762 yuan/ton, up 52 yuan/ton or 0.67% from the previous trading day. The trading volume fell back to about 1544200, and the position increased by 11374 to 623200.

On August 9, the Dow Jones Industrial Average fell 10.45 points, or 0.08%, to 13165.19; The Nasdaq (Weibo) Composite Index rose 7.39 points, or 0.25%, to 3018.64; The Standard&Poor's 500 index rose 0.57 points, or 0.04%, to 1402.79.

On August 9, the crude oil futures for September delivery on the New York Mercantile Exchange rose 1 cent to $93.36 a barrel. Gold futures for December delivery rose $4.20 to $1620.20 an ounce.

On August 9, Zheng Mian 1301 contract opened at 19330 yuan/ton and closed at 19380 yuan/ton, up 35 yuan/ton or 0.18% from the previous trading day; The trading volume decreased to 94100 and the position decreased by 446 to 274900.