ICE Cotton 20 Slightly Lower

Intercontinental Exchange (ICE) Stage cotton On the 20 day, it fell slightly, because it was put in small areas. Speculator The sale of cotton was also delayed until the end of the year. Many major market participants left the field due to holidays.

ICE index March cotton Fall 0.29 US dollars, at 86.80 cents / pound, the trading range is 86.45 cents / pound to 88.14 cents / pound. The wave amplitude is only 169 points, which is not much different from the 160 day trading interval of 19 days 85.90 cents / pound to 87.50 cents / pound.

According to Thomson Reuters preliminary data, trading volume is close to 8500 hands, compared with 30 days mean lower than 50%.

Later, however, the market fell, because of the need to buy. failure 。

Brown, chief executive of Keith Brown and Co, a commodities company, said: "cotton futures in early trading have gone up, as the stock market is strong and the US dollar has fallen. The fact that demand is moderate and stock increase continues to suppress cotton market.

Dealers said that the main promoter of cotton market, fund managers and large investors, left the market after checking out this year.

A dealer said, "the holiday is coming, which means most of the remaining market participants are ready to leave on the evening of 21. There will be only four trading days next week (December 31st week), so cotton market will not have a radical tone.

From a fundamental perspective, concerns about European debt and the US budget crisis will continue to damp demand for cotton, creating investor demand. Fatigued and weak The cotton market is struggling.

ICE data show that the total volume of US cotton futures on the 19 day is 5056 hands, the lowest since the end of 2008, and the turnover of 16 days is 7021 hands.

ICE data also showed that the December 19th cotton market's open position was 148910 hands, slightly higher than the 148427 hand of the previous trading day.