September 24, 2012 ICE: Strong Dollar Cotton Prices Continue To Weaken

Monday (9.24) New York ICE Intercontinental Exchange cotton

In October, the contract closed at 71.01 cents, which was 0.99 cents lower than the previous paction. The main contract in December was slightly higher than 73.50 cents, the highest 73.67 cents, the lowest 72.43 cents, and finally closed at 72.50 cents, down 0.75 cents from the previous trading day, 18247 hands in turnover, 119560 hands in the open position, and the March March contract was opened at 74.48 cents, the highest intraday price of the board, the lowest cent, and finally closed at the cent, which was lower than the previous trading day.

Cotton futures are down, pressure comes from the strong US dollar and global macroeconomic uncertainty, including the fear of China's economic slowdown. China is the world's largest cotton consumer.

Don Shurley of Georgia University says some people believe that the price will eventually challenge the 70 US subregional support level, perhaps to 65 cents.

When cotton picking begins and new cotton finally enters the circulation channel, prices may begin to fall.

However, he added that the number of purchases would increase when prices fell.

Today's ICE Intercontinental Exchange lost 1% cotton in December, closing at 72.50 cents / pound.

Cotton futures are hovering near the 5 week low. The US Department of agriculture report shows that as of September 15th, the number of cotton ginning in Dezhou decreased by 32% compared with the same period last year. Dezhou is the largest cotton producing state in the United States.

Knight futures Sharon Johnson said that the drought in southern Dezhou this year has led to a decline in production.

She also said it would take weeks to know the extent of the loss of cotton.

On Monday, the US stock market fell and the S & P 500 declined for third consecutive trading days.

The leaders of France and Germany were divided on the settlement of the euro area debt crisis. Both China and Germany issued a signal that the economic growth slowed down, resulting in a pressure on the stock market.

On Saturday, a consultant of the people's Bank of China said that the slowdown in China could extend to 2013.

In addition, the Japanese Prime Minister also warned Chinese officials that anti Japanese protests would threaten China's economy.

September 24th cotton spot market SLM 1-1/16 "

Chroma 41, leaf chip 4, fiber 34) average price 67.25 cents / pound, the highest price in August 31, 2012 is 72.59 cents; the lowest price in August 1, 2012 is 65.79 cents; 1 3/32 "cotton (color 31, leaf cuttings 3, fiber 35) average price 72.06 cents / pound.

In September 24th, 0 cotton bags were sold in the US spot market, and 86005 bags were sold this year, and 27172 bags were sold in the same period.

In September 21st, there were 16755 packages of NY certified stock and 1002 packages to be certified.

In September 24th, the United States spot market Pima cotton, 2 (fiber 46) 118.50 cents / pound, 3 (fiber 44) 100.50 cents, 3 (fiber) 105.50 cents, 0 bags, the annual turnover 2465 bags.

The US Department of Agriculture announced the global adjustment price (AWP) of 64.15 cents on -9 27 September 21st.

In September 24th, the Cotlook cotton Outlook Index fell, and the A index fell 180 points, to 82.30 cents / pound.

In September 24th, China's cotton price index CC Index 328 nationwide weighted average price closed at 18658 yuan / ton, up 7 yuan.

CC Index 27 closed at 16349 yuan / ton, up 6 yuan, and CC Index 229 closed at 19588 yuan / ton, up 3 yuan.

In September 24th, China's cotton import price index (FC Index M) was 87.72 cents, down 1.56 cents.

The price will be 15016 to 3642 yuan per ton.

In September 24th, Zheng cotton's main contract 1301 opened at a low price, closed at 19475 yuan / ton, down 1.19%, and increased turnover and positions.

Last Friday ICE cotton main contract 12 cotton fell 2.62%.

In September 24th, the Zhengzhou PTA1301 contract opened at 7670 yuan / ton, closing at 7650 yuan / ton, down 86 yuan / ton compared with the previous trading day, or 1.11%.

Trading volume dropped to about 1 million 16 thousand and 700 hands, and holdings dropped by 12428 to 552 thousand and 900.

In September 24th, the Dow Jones Industrial Average fell 20.55 points, closing at 13558.92 points, or 0.15%, while the NASDAQ (micro-blog) composite index fell 19.18 points to 3160.78 points, or 0.60%, while the standard & Poor's 500 index fell 3.26 points to 1456.89 points, or 0.22%.

In September 24th, the New York Mercantile Exchange delivered crude oil futures in November, down 1%, to $91.93 a barrel.

Gold futures for delivery in December

Down 0.8%, to $1764.60 an ounce.