ICE Cotton Review September 7, 2012: Cotton Is Rising At A Time Of Favorable External Benefits.

Friday (9.07) ICE Intercontinental Exchange in New York

The contract opened at a low price of 75.60 cents in October. The highest price was 76.50 cents, the lowest 75.37 cents, ending at 75.72 cents, up 0.13 cents from the previous day. The main contract in December was opened at 75.48 cents, the highest 75.80 cents in the market, the lowest 75.55 cents, and finally closed at 76.30 cents, up by 0.31 cents from the previous trading day. The turnover volume was 11968 hand, and the unliquidated amount was 11968.

Market participants pointed out that the ICE Intercontinental Exchange cotton market rose for two days in a row. The reason behind this is that the US dollar is weakening and the market expects that the US may introduce measures to stimulate the economy so as to make the fund more popular.

The US dollar was weak, crude oil and gold and other commodity prices rose sharply, and the cotton market benefited from the strong external market.

MCM Inc's Jobe Moss indicates that the improvement of the cotton market is all due to the influence of the peripheral market.

Gold prices surged 35 US dollars, and the US dollar fell sharply.

The fund continued to buy, pushing up the price of cotton futures.

After a week, the short-term upward trend is still intact. The key support interval is 73.50-71.50 cents, and the target of attack is between 79.50 and 81.50 cents.

However, if there is a lack of strong popularity of speculators and positive promotion from external markets, the potential for medium term appreciation of the market will be very limited, especially when new crop pressures on the market are beginning to show up.

The US stock market closed slightly higher on Friday, with the Dow closing a new high since December 2007 and the S & P 500 index closing a new high since January 2008.

On the economic data side, the US Labor Department announced that the US non farm employment loop increased by 96 thousand in August, which was worse than expected. The unemployment rate was 8.1%, better than the market expected.

The market is expected to heat up the new round of quantitative easing policy implemented by the Federal Reserve.

Federal Reserve Chairman Bernanke Ben hinted last week that the Fed is ready to provide more stimulus when the economic situation is weak. (Bernanke)

According to the US Department of agriculture report, in the week of 8.24-30, the annual sale of 2012/13 cotton sold 83900 standard export packages. The main buyers are Turkey (20700 packs), China (20200 packages), Vietnam (12500 packages, including 500 packages of cotton pferred from Japan and 400 withdrawal packages), Taiwan (8100 pack), and Mexico (7300 pack).

There are 208900 packages of cotton exported to the mainland. The main destinations are China (69000 packages), Turkey (37200 packs), Vietnam (19300 packages), and Mexico (19100 packages).

Pima cotton sells 30100 packages, China (19700 packages), India (5600 bales), Pakistan (2200 pack), and Egypt (1200 pack).

Pima cotton

17600 packages, the main destination is China (10200 packets), India (3400 package), Pakistan (1200 package), and Bangladesh (1100 package).

September 7th cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 71.76 cents / pound, the highest annual price 72.59 cents in August 31, 2012; the lowest price in August 1, 2012 65.79 cents; 1 3/32" cotton (color 31, leaf cuttings 3, fiber 35) average price 76.57 cents / pound.

In September 7th, 1611 cotton bags were sold in the US spot market, and 55953 bags were sold this year, and 19877 bags were sold in the same period.

In September 6th, there were 19236 packages of NY certified stock and 0 packages to be certified.

In September 7th, 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, 795 bags, the annual turnover 2465 bags.

The US Department of Agriculture announced the 07 global adjustment price (AWP) of 65.82 cents on -9 13 September.

In September 7th, the Cotlook cotton outlook index rebounded and the A index rose 50 points to 85.60 cents / pound.

In September 7th, China's cotton price index CC Index 328 nationwide weighted average price closed at 18631 yuan / ton, up 0 yuan.

CC Index 527 closed at 16320 yuan / ton, up 7 yuan, and CC Index 229 closed at 19576 yuan / ton, up 11 yuan.

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In September 7th, China imported FC Index M (89.17 cent), up 0.36 cents.

In September 7th, the Zhengzhou PTA1301 contract opened at 7450 yuan / ton, closing at 7462 yuan / ton, down 50 yuan / ton compared with the previous trading day, or 0.67%.

Turnover increased to about 1 million 800 thousand and 800 hands, and positions increased by 50792 to 688 thousand and 800.

In September 7th, the Dow Jones industrial average rose 14.64 points, closing at 13306.64 points, or 0.11%. The NASDAQ (micro-blog) composite index rose 0.61 points to 3136.42 points, or 0.02%, while the standard & Poor's 500 index rose 5.80 points to 1437.92 points, or 0.40%.

In September 7th, Nymex crude oil futures rose 0.9% to $96.42 a barrel.

Gold futures rose 2.1% to settle at $1740.50 an ounce.

In September 7th,

1301 the contract opened at 19570 yuan / ton, closing at 19595 yuan / ton, up 40 yuan / ton compared with the previous trading day, the highest price 19645 yuan / ton, and the lowest price 19525 yuan / ton.

Turnover increased slightly to 77652 hands, and holdings increased by 1610 to 245910.