Global Logistics Supply Chain Faces Difficulties, International Cotton Price Trend Is Cautious

US Federal Reserve Chairman Colin Powell said the scale of bond purchase may start to be reduced this year, but it will not be in a hurry to raise interest rates. Financial markets are waiting for the Federal Reserve to provide a clearer path, and investors' expectations of the trend of commodities are divergent. In terms of international cotton market, the recent hurricane did not bring obvious losses to American cotton, but destroyed the United States port logistics and got into trouble. In the next 6-10 days, the temperature in western Texas of the United States will be higher, which is beneficial to the later maturity of American cotton. Investors are worried about the increase of American cotton supply. Australian cotton transactions in the southern hemisphere increased significantly, making us cotton exports more worried, but the market is still optimistic about China's consumer demand. The current logistics problems have repeatedly restricted the export and shipment of American cotton, and it is difficult to exceed 200000 bales per week. Vietnam textile and clothing association said that due to the failure to implement the "three local" (local production, local catering, local accommodation) production mode, a large number of textile and garment enterprises were forced to stop production. The US consumer confidence index fell to a six-month low in August. In the short term, due to many problems in the consumption and logistics supply chain, the resistance of ice cotton price at 95 cents / pound is large.