Review Of ICE Cotton Market In November 29, 2012

Thursday (11.29) ICE Intercontinental Exchange in New York

Futures opened high and the most active 13 years March contract opened slightly higher than 72.64 cents, the highest 73.98 cents, the lowest 72.27 cents, and finally closed at 73.35 cents, 0.72 cents higher than the previous trading day, 10122 hands in turnover, 127962 hands not open.

13 years in May, the contract opened at 73.15 cents, the highest 74.55 cents in the market, the lowest 73.15 cents, and finally closed at 74.02 cents, up 0.57 cents from the previous trading day, with 747 hands in turnover and 17609 hands in open positions.

13 years in July, the contract opened at 74.70 cents, the highest 75.30 cents, the lowest 74.50 cents, and finally closed at 74.67 cents, up 0.35 cents from the previous trading day, with 351 hands in turnover and 10248 hands in open positions.

Market participants pointed out that after the US Department of agriculture's export sales report was again strong enough to exceed 300 thousand packages, cotton futures for the first time were over 73 cents / pound since October 23rd.

Sharon Johnson, Knight futures, said there was still a demand near 72 cents, which surprised her.

But she added that the sell-off in the market should continue to be well supported because

Factories and cotton merchants are absorbing at bargain prices.

ICE's most active March cotton futures in the Intercontinental Exchange rose 1% to 73.35 cents / pound.

In the week of November 16, 2012 - 22, the 300300 annual export package of the US cotton sold in the 2012/13 sales year decreased by 25% compared with last week, but the average sales volume increased by 6% over the four weeks.

The report shows that the number of buyers increased in China (83300 packages), Mexico (63100 packages), Turkey (54900 packages), Pakistan (35900 packages), Korea (10200 pack), and Peru (8500 pack).

2013/14 annual sales net sales of 14300 packages, the increase in the number of Mexico (81400 packages), Peru (3500 packages), and South Korea (900 packages), part of Vietnam was reduced (71500 packages) offset.

The export of 126900 tons of Upland Cotton decreased by 4% compared with last week, but the average export volume increased by 9% compared with that of last week.

The main destinations are China (67800 bales), Turkey (10900 packs), Mexico (9400 packs), and Vietnam (6000 packs).

In the 2012/2013 sales year, the United States Pima cotton net sales of 10600 packs, a decrease of 68% compared with last week, compared with the average weekly sales volume decreased by 48%.

The report shows that the number of buyers increased in Turkey (4900 packs), China (2200 packages), Germany (1300 packages), and Pakistan (1300 packages).

Pima cotton exports 15300 packages, the main destinations are China (8300 packages), India (3000 packs), Bangladesh (1700 packages), and Taiwan (1400 pack).

The US stock market closed slightly higher on Thursday, with US stocks rising for the second consecutive trading day.

Although Boehner, speaker of the house of Representatives, said Thursday that the budget talks had not made significant progress, investors still looked forward to at least temporarily avoiding the fiscal cliff.

As the Democratic Party and the Republican Party are arguing over how to avoid the $500 billion tax increase, any negotiation related positive and passive officials' speeches will have an impact on investors in the stock market.

November 29th cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 69.11 cents / pound, the highest annual price 72.97 cents in October 17, 2012; the lowest price in November 8, 2012 65.11 cents; 1 3/32" cotton (color 31, leaf cuttings 3, fiber 35) price 73.91 cents / pound.

In November 29th, 14131 cotton bags were sold in the US spot market, and 511891 bags were sold this year.

In November 29th, 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 3623 bags.

The US Department of Agriculture announced the global adjustment price (AWP) of 61.03 cents on -11 29 November 23rd.

In November 29th, the Cotlook cotton outlook index did not rise or fall, and the A index did not rise or fall, at 81.65 cents / pound.

In November 29th, China's cotton price index CC Index 328 nationwide weighted average price closed at 18902 yuan / ton, up 11 yuan.

CC Index 27 closed at 16619 yuan / ton, up 10 yuan, and CC Index 229 closed at 19781 yuan / ton, up 3 yuan.

In November 29th, China's cotton import price index (FC Index M) was 83.82 cents, down 0.07 cents.

In November 29th, zhengmian 1305 contract opened at a low price and closed at a low price of 19120 yuan / ton, closing at 19095 yuan / ton, down 60 yuan / ton compared with the previous trading day, the highest price was 19175 yuan / ton, and the lowest price was 19075 yuan / ton.

Turnover increased to 42092 hands, and holdings increased by 2228 to 177632.

In November 29th, the Zhengzhou PTA1305 contract opened at 7658 yuan / ton, closing at 7672 yuan / ton, down 22 yuan / ton compared with the previous trading day, or 0.29%.

Trading volume dropped to about 500 thousand and 600 hands, and holdings dropped by 16086 to 398 thousand and 600.

In November 29th, the Dow Jones industrial average rose 36.71 points, closing at 13021.82 points, or 0.28%. The NASDAQ [micro-blog] composite index rose 20.25 points to 3012.03 points, or 0.68%, while the standard & Poor's 500 index rose 6.02 points to 1415.95 points, or 0.43%.

In November 29th, the New York Mercantile Exchange delivered gold in February (1724.90, -2.30, -0.13%).

The price rose by $10.70 to $1729.50 an ounce.

Crude oil (87.60, -0.47, -0.53%) futures rose 1.58 US dollars to close at $88.07 a barrel.