On the 19th, the ICE futures contract for cotton was lifted by the pessimistic news of Europe after the morning session rose. After the midpoint, the rebound in external commodity markets and buying support rebounded and closed higher. The Cotlook spot price held steady and the overall demand was light.
First, ICE cotton rebounded on the 19th in the overall external market and a small amount of buying support in the external commodity market, ICE cotton generally closed up sharply, the main 1203 month settlement settled 87.09 cents/lb, up 80 points, 1205 contract settlement price 86.72 Cents/lb, up 79 points, other forward contracts rose 82-172 points. Investors generally hold a wait-and-see attitude when the holidays approach, and the market volume is light.
When the date of cotton rose in the Chinese market in the early morning with cotton planting area or reduction news, the main 1203 contract reached the highest point of the day at 87.50 cents/lb; after a pessimistic news about the European economy weighed on market sentiment, the contract pressured down to 85.90 US dollars. In points/lbs, the shock ranged from 160 points; after midday, the external commodity markets generally pushed up the rebound of cotton futures, and the contract eventually rose sharply.
Analysts pointed out that although commodity markets have generally risen yesterday, the economy is still not optimistic. It is expected that the rising market price will be unsustainable and investors will continue to pay attention to the development of the European situation.
Second, the spot review 19 Cotlook A index 92.55 cents / lb, unchanged. The import cotton price index (FC Index) SM level 103.87 points/lb, unchanged; M level 99.64 cents/lb, unchanged; SLM level 99.49 cents/lb, unchanged.
On the same day, except for the fall of Egypt's Giza 86 new flower quotation, the cotton quotation from other origins remained unchanged. Only a part of the textile mills on the market based on immediate demand for small purchases, the overall demand is light.
Third, national dynamics With the gradual increase in the acquisition of Indian seed cotton, domestic cotton prices stabilized. The Shankar-6 gin factory pick-up price is about 34500-35000 rupees/candy, the middle price is about 83.25 cents/lb, and the Punjab-born J-34 new flower is about 3410 rupees/maund, which is 78.00 cents/lb.
According to statistics of the Pakistan Cotton Processing Association (PCGA), by December 15th, Pakistan had acquired about 11.036 million bales (1.876 million tons) of seed cotton, an increase of 17.69% over the same period of last year. The country’s recent cold weather, the smooth progress of seed cotton acquisitions; the domestic cotton price is stable, slightly lower than 5,000 rupees/maund.
In the week of December 17, Egypt registered 1,728 tons of long-staple cotton, including 1,103 tons of Giza and 88 tons of Giza 88 at prices of 127.00 cents/lb and 151.00 cents/lb.
In Panhandle and the plains of the Southwestern Cotton Region of the United States, strong rains and snowfalls occurred as a result of the cold front. Local soil moisture has been greatly improved; the processing of ginning mills in Kansas and Oklahoma is nearing completion.
Fourth, according to the Intercontinental Exchange's speculative position report, to december 16 ICE speculative cotton net long rate was 0.3%, down 1.7 percentage points from the previous week. As of the end of the week, there were 509 net long speculative positions, a decrease of 2,310 from the previous week. The cumulative number of open positions was 148,427, an increase of 7,116.
First, ICE cotton rebounded on the 19th in the overall external market and a small amount of buying support in the external commodity market, ICE cotton generally closed up sharply, the main 1203 month settlement settled 87.09 cents/lb, up 80 points, 1205 contract settlement price 86.72 Cents/lb, up 79 points, other forward contracts rose 82-172 points. Investors generally hold a wait-and-see attitude when the holidays approach, and the market volume is light.
When the date of cotton rose in the Chinese market in the early morning with cotton planting area or reduction news, the main 1203 contract reached the highest point of the day at 87.50 cents/lb; after a pessimistic news about the European economy weighed on market sentiment, the contract pressured down to 85.90 US dollars. In points/lbs, the shock ranged from 160 points; after midday, the external commodity markets generally pushed up the rebound of cotton futures, and the contract eventually rose sharply.
Analysts pointed out that although commodity markets have generally risen yesterday, the economy is still not optimistic. It is expected that the rising market price will be unsustainable and investors will continue to pay attention to the development of the European situation.
Second, the spot review 19 Cotlook A index 92.55 cents / lb, unchanged. The import cotton price index (FC Index) SM level 103.87 points/lb, unchanged; M level 99.64 cents/lb, unchanged; SLM level 99.49 cents/lb, unchanged.
On the same day, except for the fall of Egypt's Giza 86 new flower quotation, the cotton quotation from other origins remained unchanged. Only a part of the textile mills on the market based on immediate demand for small purchases, the overall demand is light.
Third, national dynamics With the gradual increase in the acquisition of Indian seed cotton, domestic cotton prices stabilized. The Shankar-6 gin factory pick-up price is about 34500-35000 rupees/candy, the middle price is about 83.25 cents/lb, and the Punjab-born J-34 new flower is about 3410 rupees/maund, which is 78.00 cents/lb.
According to statistics of the Pakistan Cotton Processing Association (PCGA), by December 15th, Pakistan had acquired about 11.036 million bales (1.876 million tons) of seed cotton, an increase of 17.69% over the same period of last year. The country’s recent cold weather, the smooth progress of seed cotton acquisitions; the domestic cotton price is stable, slightly lower than 5,000 rupees/maund.
In the week of December 17, Egypt registered 1,728 tons of long-staple cotton, including 1,103 tons of Giza and 88 tons of Giza 88 at prices of 127.00 cents/lb and 151.00 cents/lb.
In Panhandle and the plains of the Southwestern Cotton Region of the United States, strong rains and snowfalls occurred as a result of the cold front. Local soil moisture has been greatly improved; the processing of ginning mills in Kansas and Oklahoma is nearing completion.
Fourth, according to the Intercontinental Exchange's speculative position report, to december 16 ICE speculative cotton net long rate was 0.3%, down 1.7 percentage points from the previous week. As of the end of the week, there were 509 net long speculative positions, a decrease of 2,310 from the previous week. The cumulative number of open positions was 148,427, an increase of 7,116.
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