On August 8, Cotton Hit A New 11 Week High

Wednesday (8.08) ICE New York Cotton futures The contract opened at a low price of 74.88 cents, with the highest price of 75.80 cents and the lowest price of 73.86 cents, and finally closed at 75.50 cents, up 0.54 cents from the previous trading day; The main December contract opened at 75.51 cents, with the highest of 76.30 cents and the lowest of 74.21 cents, and finally closed at 76.00 cents, up 0.60 cents from the previous trading day. The trading volume was 10607 hands, and the open position was 133762 hands; The contract in March 2013 closed at 76.86 cents, up 0.43 cents from the previous trading day.

On Wednesday morning, cotton fell to 74.21 cents/pound in December, but the recent rise continued in the closing. The US Department of Agriculture will release the US cotton export sales weekly report and August cotton supply and demand report on Thursday and Friday. INTL Fortis expects that the US Department of Agriculture will reduce its production estimate by 500000 bales to 16.5 million bales, because the planting area announced in June is reduced, and the domestic drought in the US is worsening. ICE's cotton harvest in December rose 0.8% to 76.00 cents, a new 11 week high.

Cotton is priced in US dollars. For foreign buyers, cotton prices are less attractive, and the rebound of US dollars puts pressure on the market. Mike Stevens, an independent analyst, said that the recent overseas market interest in American cotton supported the cotton market in the period. American cotton is very competitive in the world price, so the cotton season rose to a new 11 week high this week. Now, market participants expect the weekly report of American cotton export sales released by the U.S. Department of Agriculture tomorrow and the monthly report of cotton supply and demand released on Friday to give some price trends.

After rising for three consecutive trading days and hitting a three-month high, the US stock market stabilized on Wednesday, and the rise and fall of major stock indexes were very limited. The loan costs of Spain and Italy remain dangerously high. The yield of Spanish 10-year bonds remains around 7%, while that of Italian 10-year bonds is slightly lower than 6%. Investors are particularly worried about Spain, which may need more aid funds.

August 8 cotton The average price of slm 1-1/16 "cotton (color 41, leaf chip 4, fiber 34) in the spot market is 71.36 cents/pound, with the annual highest price of 71.36 cents on August 8, 2012; the annual lowest price of 65.79 cents on August 1, 2012; the average price of 1 3/32" cotton (color 31, leaf chip 3, fiber 35) is 76.13 cents/pound.

On August 8, 3315 bales of upland cotton were sold in the US spot market, and 9525 bales were delivered this year. 502 packages were sold in the same period last year.

On August 7, NY certified 30527 packages of inventory, and 0 package of inventory to be certified.

On August 8, Pima cotton was sold in the US spot market at 116.00 cents/pound for Grade 2 (fiber 46), 98.00 cents for Grade 3 (fiber 44), and 103.00 cents for Grade 3 (fiber). There were no bales of Pima cotton, and 170 bales of Pima cotton were sold annually.

The USDA announced that the global adjusted price (AWP) from August 3 to August 9 was 61.38 cents.

On August 8, the Cotbook cotton outlook index fell back, and the A index fell 10 points to 85.40 cents/lb.

On August 8, China's cotton price index CC Index 328 closed at 18352 yuan/ton, up 6 yuan. CC Index 527 closed at 16035 yuan/ton, up 9 yuan, and CC Index 229 closed at 19425 yuan/ton, up 2 yuan.

On August 8, China's FC Index M fell 0.15 cents to 88.99 cents. The standard tax price was converted to 15108, and the difference with the domestic cotton price was 3244 yuan/ton.

On August 8, Zhengzhou PTA1301 contract opened at 7744 yuan/ton and closed at 7660 yuan/ton, down 64 yuan/ton or 0.83% from the previous trading day. The trading volume increased to about 1768500 hands, and the position volume decreased by 11332 hands to 611800 hands.

On August 8, the Dow Jones Industrial Average rose 7.04 points, or 0.05%, to 13175.64; The Nasdaq Composite Index fell 4.61 points, or 0.15%, to 3011.25; The Standard&Poor's 500 index rose 0.87 points, or 0.06%, to 1402.22.

On August 8, the crude oil futures for September delivery on the New York Mercantile Exchange fell 23 cents to 93.44 dollars a barrel. Gold futures for December rose $3.20 to $1616 an ounce.

On August 8, Zheng Mian 1301 contract opened at 19355 yuan/ton and closed at 19265 yuan/ton, down 60 yuan/ton or 0.31% from the previous trading day; The trading volume increased to 189100, and the position decreased by 5776 to 275300.