Experts: Supply Worries Ease &Nbsp; Cotton Price Falls Two Weeks Low

Friday (10.01) ICE Intercontinental Exchange in New York

cotton

Futures fell below 1 U.S. dollars to the lowest level in two weeks, analysts said, because the United States is picking cotton, so the market will gradually adjust.

Cotton delivered in December fell 3.9 cents, or 3.8%, to 98 cents / pound, far below the 15 year high of two weeks.

The main cotton producing countries, Pakistan and China, suffered floods in late August, causing the market to worry that there will be huge gaps in the global cotton supply.

As inventory has dropped to the lowest level for many years, the global textile mills rush to buy Cotton in advance, and the amount of time is increased.

This panic led to soaring prices, the four consecutive record high in September 28th, to 1.0519 dollars / pound.

But prices are dropping quickly.

Wednesday's cotton limit was the biggest in the world.

Cotton export

The United States and India reported that cotton harvest is better than expected, which may clear up the worries of the rapid shortage of cotton.

Did India debate whether to ban cotton exports on Tuesday?

Textile mill

First, purchasing and storing cotton. On Friday, the India ministerial conference announced that exporters could register the cotton export contracts according to the plan, and the actual export started from next month.

The number of exports allowed is expected to increase to 750-800 bales.

In the industry newsletter cotton outlook report, the number of first day registration exceeds 850000 packages, and the weight of each pack is 374 pounds.

Cotton picking and shipping in the United States are very active and the output is estimated to be higher.

The International Cotton Advisory Committee forecast on Friday that cotton consumption in the 2009-10 year (Thursday end) will exceed 13 million packages.

However, the industry group now forecasts that the supply in 2010-11 years is greater than that of the global 115 million package, though only 1 million packages.

First Capitol group senior cotton commentor John Sharon said cotton has been seriously overbought, and its overbought level is the most serious in 25 years.

Analysts predict cotton prices will drop to a 80 cent range when textile mills replenish sources and gradually slow down the purchase speed.

This level is still higher than last year, and the highest price of cotton in December last year was 76.58 cents.

Output is still likely to increase, and the consumption - demand gap and pressure price will shrink over time.

The US stock market closed up on Friday, but this week the market is still closing down, ending the previous four weeks' rally.

The newly released economic data once again raised concerns about the economic outlook, causing US stocks to fall this week.

The Dow Jones industrial average rose 41.63 points to 10829.68 points, or 0.39%, while the Nasdaq composite index rose 2.13 points to 2370.75 points, or 0.09%, while the standard & Poor's 500 index rose 5.03 points to 1146.23 points, or 0.44%.

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The New York commercial exchange COMEX department's gold contract for December delivery rose 8.20 dollars, or 1317.80 dollars an ounce, or 0.6%.

The contract rose to a maximum of $1322.

Gold futures rose 1.5% this week.

The New York Mercantile Exchange's November crude oil contract rose 1.61 dollars to close at $81.58 a barrel, or 2%.

This is the first time the contract has closed at $80 since August 10th, a record high since August 9th.

The contract rose to a maximum of $81.71 per barrel, rising 6.6% this week, the biggest week since mid February.

In September 30, 2010, New York ICE cotton certification stock was 18451 packages, and 3181 bags to be certified.

On the 01 day of October, -10, 07, the global adjusted cotton price (AWP) was 95.77 cents.

October 01 ICE US cotton futures closes

    
        
            
            

            
            
            

Current settlement

            
            
            

Pre settlement

            
            
            

Ups and downs

            
            
            

7 market average average price of Upland Cotton

            
        
        
            
            

10 October

            
            
            

Ninety-nine point nine seven

104.18 -4.21

            
            
            

Annual maximum price 9/28/2010

            
            
            

One hundred point one zero

            
        
        
            
            

10 December

            
            
            

Ninety-eight point zero two

101.92 -3.90

            
            
            

7 market average average price of Upland Cotton

            
        
        
            
            

11 years, 03 months

            
            
            

Ninety-six point eight three

100.46 -3.63

            
            
            

Annual minimum price 8/2/2010

            
            
            

Eighty point one eight

            
        
        
            
            

11 years, 05 months

            
            
            

Ninety-six point six three

99.87 -3.24

            
            
            

Effective date 01 October -

Ten

07 June

            
        
        
            
            

11 years, 07 months

            
            
            

Ninety-five point nine five

99 -3.05

            
            
            

Global adjustment price (AWP)

            
            
            

Ninety-five point seven seven

            
        
        
            
            

11 October

            
            
            

Eighty-eight Point Zero Five

89.52 -1.47

            
            
            

Coarse adjustment of CC ADJ

            
            
            

Zero

            
        
        
            
            

11 December

            
            
            

Eighty-four point five eight

85.84 -1.26

            
            
            

2009 cotton fine adjustment

            
            
            

Zero point seven four

            
        
        
            
            

12 years, 03 months

            
            
            

Eighty-three

83.57 -0.57

            
            
            

2010 cotton fine adjustment

            
            
            

Zero point eight four

            
        
        
            
            

12 years, 05 months

            
            
            

Eighty-one point five nine

82.16 -0.57

            
            
            

Insufficient loan payment (LDP)

            
            
            

Zero

            
        
        
            
            

12 years, 07 months

            
            
            

Eighty-one point five nine

82.06 -0.47

            
            
            

Effective date 01 October - 07 October

            
        
        
            
            

 

            
            
            

 

            
            
            

ELS competition payment

(PCP)

            
            
            

Zero