Focus On The Recovery Of Global Economy In Twists And Turns, International Cotton Market Tends To Be Rational
The number of new jobless claims increased slightly in the United States last week, but the number of continued claims declined, further indicating that the recovery of the labor market from the new epidemic is still unstable. In the international cotton market, the budding progress of American new cotton was 42%, 10% higher than that of the previous week, and the seedling situation was basically stable; Cotton harvesting in Pakistan has started in more than ten major production areas, and the new cotton harvest in Brazil has been further accelerated.
USDA and ICAC forecast that cotton production will increase by 4.9% and 5.6% in 2021 / 22, respectively. The international cotton yarn market differentiation is more and more obvious, Vietnam yarn, Central Asia cotton yarn, Pakistan cotton yarn shipment increased, India cotton yarn decreased. According to wind data, the retail sales of terminal clothing and apparel in the United States were 23.94%, - 1.96% and 2.96% in March, April and may, respectively. In June, the consumer confidence index of the United States hit a new high since February last year.
To sum up, the global economy is recovering in twists and turns. The international cotton output is expected to increase in the next year. The recovery performance of the consumer market is not stable. The market confidence is relatively high, and the international cotton market tends to be rational.
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