U.s. Cotton Is The End Of Four With Positive

Before the publication of the USDA monthly report

, ICE Cotton was unable to break through the 103 cents / lb of pressure position, due to external market weakness on Friday, more than a single open and a small amount of profit selling an end to ICE Cotton rose for four consecutive days , the main December contract fell 0.75 cents to 101.98 cents / lb, the maximum was reached 103.64 cents / pound, still can not stand 103 cents / lb above. And a macroeconomic problems faced by U.S. and European economies still exist, rpet bag consumer difficult recovery, significantly higher than the global supply demand, which is the main factor suppressing cotton prices, cotton prices still further decline in the future may be, concerned about next Wednesday's monthly USDA supply and demand report and 103 cents / lb of pressure position.

Technically, fell slightly overnight ICE Cotton, 103 cents / lb and medium-term moving average pressure level to be verified, but continued long in the low KD indicators rose arrangement, MACD indicators tend to bond, to shorten the green column, non woven bag supplier technical rebound is expected to continue , but not optimistic, concerned about the December contract 103 cents / lb pressure level, is expected to ICE Cotton will continue 99-103 cents / lb sideways area.

Because the pattern of international cotton prices to maintain the shock, the domestic spot trading suspended due to National Day holiday, the acquisition of seed cotton has stabilized, the cost of lint in the Xinjiang region 20000-21000 yuan / ton, but with a lot of lint listed, the market will test the capacity of the textile enterprises but the problems facing Europe and America to send the economy will continue to restrict consumption, non woven Bag supply pressure behavior, the probability of increased cotton prices fell, more than 20,700 yuan every line to empty single holdings in May. Source: www.cnmhc.com

by: ddew

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