2019 ICE Cotton Futures Market: End Point Back To Starting Point Average Price Fell 18.20%

In December 31, 2019, ICE futures closed 69.05 cents in recent months, down 3.15 cents from 72.20 cents in December 31, 2018, and a 4.4% decline. After a 6.43 cent fall in 2018, it fell for second consecutive years.

Throughout 2019, the highest price of ICE futures contracts in recent months was 78.92 cents in April 8, 2019, and the lowest price was 57.54 cents in August 27th. After several twists and turns, ICE futures returned to 70 cents at the end of 2019, near the price level a year ago.

In 2019, the average price of ICE futures was 67.18 cents, down 14.95 cents from 82.13 cents in 2018, or 18.20%.

Extended reading

Everyday ICE| starts new year and starts to cotton up.

With the signing date of the first phase of Sino US agreement, cotton prices began to rise continuously. ICE futures and zhengmian futures have seen substantial gains, and ICE futures contract closed to 70 cents, rising nearly 7% in the past four weeks.

On January 1, 2020, President Trump issued a tweet that the two sides will sign the first stage agreement in the White House in January 15, 2020. In recent days, China's cotton futures have surged, and the first phase of the Sino US agreement has stimulated demand, and spot prices have started to rise.

Affected by the new year's holiday, this week's US cotton export weekly report was postponed to Friday. At present, the US cotton export performance is good, the market began to guess that the US Department of agriculture may raise the US cotton export forecast. Meanwhile, the recent weakening of the US dollar index is favorable for us cotton exports in 2020.

India's price remained stable under the support of CCI acquisition. In the past three months, cotton prices in India dropped by 5.3%, cotton prices in China increased by 6%, and cotton prices in Pakistan increased by 1.7%. With the overall rise of international cotton prices, the competitiveness of cotton prices in India has improved significantly in recent days, which is favorable for later exports.

With the change of market, ICE futures speculation has increased from 6000 to 18000. After the March contract successfully crossed the 200 day moving average, the market bullish situation was further consolidated. It is expected that the ICE futures contract will continue to rise to 70-72.5 cents after the start of the new year, but at the same time, while the futures market is rising, the base of the non US cotton has begun to weaken, indicating that the spot demand has not yet kept up, and the cotton price is showing at 70 cents. "70-72.5"