New York Cotton Fell To Five Year Low On Wednesday

New York Stage cotton On Wednesday, it fell to its lowest level since 2009. Worried that China's policy adjustment will damage the import demand of the country, cotton prices continue to recall the accumulated gains in the past five years, which is the biggest cotton consumption country in the world.

　　 Trading The most active ICE-12 month cotton fell 2.9%, the lowest 61.02 cents since October 2009, and this week's official Chinese statement said it would cut the fall after 2015's import quota.

The contract fell 1.26 cents, or 2%, to 61.57 dollars per pound, which will drop for second consecutive weeks. The contract has fallen by more than 25% so far this year.

　　 Chinese government Earlier this week, it said it would reduce cotton import quotas to 894 thousand tons next year to help stimulate domestic production. China is gradually winding up its large-scale acquisition and storage plan.

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Australian wool Market

This week the Australian market was relatively stable, with the EMI index rising 1 Australian cents. The Australian Wool Exchange's Eastern market composite index (AWEXEMI) was 1023 Australian cents / kg, up 1 Australian cents (+0.01%); the US gold price closed at 918 cents / kg, down 22 cents (-2.3%); the RMB price closed at 5637 cents / kg, down 264 points (-4.5%). The Australian dollar closed at 0.8974 against the dollar at a record low of 0.8940.

New Zealand wool Market

This week's auction in Napier was relatively strong compared with the auctions on North Island in September 4th. Purchasing power from China is still having an impact on this week's auction. The price of fine crossbred hairs is strong. The next auction will be held in September 25th, with an estimated supply of about 11680 bales.

Domestic wool Market

The domestic market is still calm, and only Australian wool strip has fallen considerably. The Nanjing wool market quotation composite index closed at 71.49 yuan / kg, down 0.02 yuan / kg (-0.03%) compared with last week.

　　澳大利亞原毛分指數81.14元/公斤,與上周相比大約下跌了0.42元/公斤;澳炭化毛分指數62.75元/公斤,與上周基本持平;澳毛自梳條分指數86.86元/公斤,與上周相比大約下跌了0.91元/公斤;國毛條分指數69.79元/公斤,與上周相比上漲了0.26元/公斤;烏拉圭毛條分指數48.72元/公斤,與上周相比大約下跌了0.16元/公斤;新西蘭原毛分指數36.55元/公斤,與上周相比大約上漲了0.73元/公斤;新西蘭洗凈毛分指數40.12元/公斤,與上周相比大約下跌了0.26元/公斤;新毛自梳條分指數47.01元/公斤,與上周相比上漲了0.66元/公斤;新西蘭雪萊毛分指數39.70元/公斤,與上周相比下跌了0.10元/公斤;歐洲毛條分指數35.00元/公斤,與上周基本持平。