International Cotton: European Debt Crisis Hits Cotton Market

Due to the rekindling of European debt and European debt, ICE cotton has been weighed down and the external market has been dragged down. The spot market quotation is steady, the buyer continues to wait and see.

First, ICE cotton look back.

The European debt crisis solution raises market concerns, 31 days. ICE cotton The total price fell sharply, the main contract price settled 102.29 cents / pound, fell 208 points, the 1203 month contract settlement price 100.82 cents / pound, fell 168 points, and other forward contracts also fell sharply.

The market opened up and left lower in the morning market. The European debt crisis was rekindled and the external commodities and crude oil markets were falling sharply. The cotton futures were down. The main force was the lowest on the 1112 month contract to 101.14 cents per pound.

　　 Two, spot review

On the 31 day, the CotlookA index was 112.60 cents / pound, unchanged. Because of weak changes in cotton during the ICE period last Friday, the spot price of international cotton was generally stable on Monday, and the seller did not adjust the offer. Buyers continue to take a wait-and-see attitude, waiting for market changes.

31 day importation Cotton price The index (FCIndex) SM level is 122.80 cents / pound, M class 116.55 cents / pound, SLM level 115.18 cents / pound, all are the same as the previous day.

　　 Three. Dynamics of countries

The overall picking rate of US cotton is more than half. From 30 to October, the overall picking rate of US cotton was 55%, an increase of 11 percentage points from the previous week, compared with 58% in the same period last year, and 43% in the last five years.

Pakistan cotton picking steadily advancing, affected by the festival, later this week Pick There will be a slowdown. Textile mill procurement is not very active, and domestic cotton prices are being suppressed.

Due to heavy rainfall, Azerbaijan has already acquired about 43000 tons of seed cotton this year.

Cotton picking in Kazakhstan has ended, and seed cotton purchase volume is about 24-25 tons.

　　 Four, others

Speculative net bull rate rebounded, to October 28th, ICE cotton speculation net long lead rate was 6.4%, an increase of 2.6 percentage points from the previous week.