August 27, 2012 ICE: Hurricanes Lead To A Rebound In Cotton Market Prices

Monday (8.27) ICE Intercontinental Exchange in New York

Gao Kai Gao, October contract opened at 75.20 cents, the highest 75.48 cents, the lowest 74.87 cents, and finally closed at 75.33 cents, up 0.88 cents from the previous day, the main contract in December opened 75.50 cents higher, the highest 76.24 cents, the lowest 75.23 cents, and finally closed at 76.14 cents, up by 0.93 cents from the previous trading day, trading volume 11972 hand, no open hand, and the March March contract closed at the cent of the last trading day.

Market participants pointed out that the main reason for the pick-up in the cotton market today is that tropical storm Isaac is approaching Alabama and Mississippi, the two most important cotton growing state in the United States.

On Monday, the market was concerned about the tropical storm in the Gulf of Mexico. The US National Hurricane Center predicted that the storm Isaac would increase to a category 2 hurricane, and that the hurricane would land from Florida to somewhere in Louisiana.

This is part of the main cotton producing area in the United States, including Mississippi and Alabama.

The cotton market climbed on Monday amid fears that the hurricane could damage cotton crops.

According to the latest data provided by the Commodity Futures Trading Commission last Friday, hedge funds and other speculators held a net double head to 12333 hands as of August 21st.

The US Department of Agriculture issued a weekly report on the US cotton growth for the week ended August 26th: a very poor percentage of 10-18%, which was 23-18% last year, and a good excellent percentage of 33-10%, which was 25-5% last year.

The fruit set rate was 96%, which was 93% last week, 96% last week, 92% for 5 years, 24% for last week, 24% for week 2011, 21% for 5 years.

Beijing reported that cotton production in Xinjiang, China's largest cotton producing region, is expected to increase by 4% in the current sales year. This will put downward pressure on global cotton prices, and further test China's cotton system, making Chinese textile exporters more miserable.

The US stock market closed differently on Monday.

The market is waiting for Federal Reserve Chairman Ben Bernanke (Ben Bernanke) to deliver a speech in Wyoming on Friday.

Mario Draghi, the European central bank governor, will also deliver a speech at the annual meeting of the Fed on Saturday. The market will look for hints about the ECB policy trend from his speech. Delagi Mario.

August 27th cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 71.34 cents / pound, the highest annual price 72.29 cents in August 21, 2012; the lowest price in August 1, 2012 65.79 cents; 1 3/32" cotton (color 31, leaf cuttings 3, fiber 35) average price 76.15 cents / pound.

In August 27th, 1509 cotton bags were sold in the US spot market, and 32199 bags were sold this year, and 8939 bags were sold in the same period.

In August 27th, there were 22024 packages of NY certified stock and 0 packages to be certified.

In August 27th, the United States spot market Pima cotton, 2 (fiber 46) 116 cents / pound, 3 (fiber 44) 98 cents, 3 (fiber) 103 cents, 0 bags, the annual turnover 170 bags.

The US Department of Agriculture announced the global adjustment price (AWP) of 63.14 cents on -8 30 August 24th.

In August 24th, the Cotlook cotton Outlook Index fell, and the A index fell 20 points to 86.40 cents / pound.

August 27th, China

Price index CC Index 328 national average weighted average price closed at 18440 yuan / ton, up 10 yuan.

CC Index 527 closed at 16118 yuan / ton, up 13 yuan, and CC Index 229 closed at 19452 yuan / ton, up 2 yuan.

In August 27th, China's cotton import price index (FC Index M) was 89.01 cents, down 0.23 cents.

In August 27th, Zheng cotton 1301 contract opened 19485 yuan / ton, closing at 19335 yuan / ton, down 170 yuan / ton compared with the previous day, the turnover increased to 146298 hands, and the holding volume increased 4694 hand to 278010 hand.

In August 27th, Zhengzhou PTA1301 contract opened at 7580 yuan / ton, closing at 7636 yuan / ton, up 120 yuan / ton compared with the previous trading day, or 1.68%.

Turnover increased slightly to around 1 million 468 thousand and 400 hands, and positions increased by 46144 to 694 thousand and 900.

In August 27th, the Dow Jones Industrial Average fell 33.30 points, closing at 13124.67 points, or 0.25%, while the NASDAQ (micro-blog) composite index rose 3.40 points to 3073.19 points, or 0.11%, while the standard & Poor's 500 index fell 0.69 points to 1410.44 points, or 0.05%.

In August 27th, Nymex crude oil (95.65,0.18,0.19%) futures fell 0.7% to $95.47 a barrel.

Gold (1668.30, -7.30, -0.44%) futures

It rose 0.2% to $1675.60 an ounce.