September 6, ICE Intercontinental Exchange Cotton Futures Opened High

Thursday (9.05) ICE New York cotton Futures opened higher and higher. The October contract opened higher at 75.42 cents, with the highest of 75.60 cents and the lowest of 74.95 cents, and finally closed at 75.59 cents, up 0.70 cents from the previous trading day; The main December contract opened slightly higher at 75.48 cents, with the highest of 76.19 cents and the lowest of 74.80 cents, and finally closed at 75.99 cents, 0.64 cents higher than the previous trading day. The trading volume was 11946 hands, and the open position was 124216 hands; The contract in March 2013 closed at 76.98 cents, up 0.66 cents from the previous trading day.

The weak US dollar boosted the cotton market, as goods priced in US dollars are more attractive to foreign buyers. The cotton futures trading range remained at 74.50c-77.50 cents/pound, because market participants were waiting for China, the world's largest cotton importer and consumer, to make a clear move on its strategic reserve inventory. Mike Stevens, an independent analyst, predicted that the US Department of Agriculture would slightly reduce US cotton production in next week's supply and demand report because of the drought in Texas. Today, the cotton for December delivery on ICE Intercontinental Exchange closed 0.9% higher at 75.99 cents/lb.

At the close of the US stock market on Thursday, the S&P 500 index hit a new high since January 2008, the Dow hit its highest closing point since December 2007, and the NASDAQ index hit its highest closing point since November 2000. The European Central Bank announced on Thursday that it would keep the benchmark interest rate unchanged at 0.75%. Mario Draghi, its president, said at the subsequent press conference that the European Central Bank would launch a "direct currency transaction" plan; The Council of the European Central Bank has made a decision on the purchase of sovereign debt. The US ADP employment data made the market optimistic about the non farm employment data in August. The Labor Department announced that 365000 people had applied for unemployment benefits for the first time in the week ending September 1, which was better than expected.

On September 6, the average price of slm 1-1/16 "cotton (color 41, leaf chips 4, fiber 34) on the national cotton spot market was 71.67 cents/pound, with the annual highest price of 72.59 cents on August 31, 2012; the annual lowest price was 65.79 cents on August 1, 2012; the average price of 1 3/32" cotton (color 31, leaf chips 3, fiber 35) was 76.48 cents/pound.

On September 6, 11272 bales of upland cotton were sold in the US spot market, 54342 bales were sold this year, and 17450 bales were sold in the same period.

On September 5, the inventory of NY certification was 19236 packages, and the inventory to be certified was 0 packages.

September 6, American spot market Pima cotton, grade 2 (fiber 46) 118.50 cents/pound, grade 3 (fiber 44) 100.50 cents, grade 3（ fibre ）105.50 cents, 1500 packages were sold, and 1670 packages were sold annually.

The USDA announced that the global adjusted price (AWP) from August 31 to September 6 was 65.73 cents.

On September 6, the Cotbook cotton outlook index weakened, and the A index fell 30 points to 85.10 cents/lb.

On September 6, China's cotton price index CC Index 328 closed at 18631 yuan/ton, up 15 yuan. CC Index 527 closed at 16313 yuan/ton, up 22 yuan, and CC Index 229 closed at 19565 yuan/ton, up 4 yuan.

On September 6, China's FC Index M fell 0.66 cents to 88.81 cents.

On September 6, Zheng Mian 1301 contract opened at 19580 yuan/ton and closed at 19570 yuan/ton, up 30 yuan/ton from the previous trading day, with the highest price of 19585 yuan/ton and the lowest price of 1951 yuan/ton. The trading volume decreased slightly to 51020, and the position decreased by 2456 to 244300.

On September 6, Zhengzhou PTA1301 contract opened at 7520 yuan/ton and closed at 7492 yuan/ton, down 12 yuan/ton or 0.16% from the previous trading day. The trading volume fell back to about 1084200 hands, and the position decreased by 11432 hands to 638000 hands.

On September 6, the Dow Jones Industrial Average rose 244.45 points, or 1.87%, to 13291.93; The Nasdaq Composite Index rose 66.54 points, or 2.17%, to 3135.81; The Standard&Poor's 500 stock index rose 28.67 points, or 2.04%, to 1432.11.

On September 6, NYMEX gold (1702.70, -2.90, -0.17%) futures The price rose 0.7% to close at US $1705.60 per ounce. Crude oil (94.77, -0.76, -0.80%) futures prices rose 0.2% to close at 95.53 dollars per barrel.