August 28Th ICE Cotton Market Is Expected To Throw Away Cotton Market In China Weak

Tuesday (8.28) ICE Intercontinental Exchange in New York

In October, the contract opened at a low price of 74.77 cents. The highest price was 74.89 cents, the lowest 74.50 cents, ending at 74.79 cents, which was 0.54 cents lower than the previous trading day. The main contract in December was opened at 75.95 cents, the highest 76.44 cents in the market, the lowest 75.11 cents, and finally closed at 75.62 cents, down by 0.52 cents compared with the previous trading day, the volume contracted to 8511 hands, and the unliquidated hand.

Don Shurley of Georgia University said that today's cotton market is weakening because the market expects China to put some stock in the market.

China's national cotton reserve company said the company will sell 20-30 tons of cotton to the domestic market to reduce China's demand for overseas cotton imports.

According to China's policy, prices will continue to be high.

He added that hurricane Isaac could damage some cotton crops in the southern and southeastern parts of the United States.

Today's ICE Intercontinental Exchange fell 0.7% in December, closing at 75.62 cents / pound, with a very small volume.

According to Chinese sources, China will start selling national reserve cotton next week.

The company will increase the supply of cotton, and at the same time, make room for new cotton picked in the next few weeks. At the same time, domestic and foreign cotton prices will be suppressed.

In Australia, Sunny Verghese, chief executive of OLAM international, said on Tuesday that Australia's cotton production could reach about 4 million 500 thousand packs in 2012-13 years (starting in September), compared with about 5 million 30 thousand packages in 2011-12 years, because the price of grain is more attractive, prompting the Department to divide farmers into grain crops.

India, India Weather Bureau official said Tuesday that monsoon rains in Northwest India may begin to retreat more time later than usual in September 1st. Although the withdrawal time is delayed, precipitation may not increase due to El Nino phenomenon.

The US stock market closed differently on Tuesday.

The economic data are mixed and the investors are cold.

Market sentiment was cautious before the weekend's annual meeting of the Fed.

In the US economic data, S & P announced that the US housing price increase of 0.9% in June is better than expected.

The US Bureau of economic services reported that the consumer confidence index in August dropped from 65.4 in July to 60.6, to a new low since November 2011.

August 28th cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 70.96 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 75.76 cents / pound.

The US spot market in August 28th

2230 bags were sold, and 34429 bags were sold this year. 9679 bags were sold in the same period.