New York futures prices rise sharply

On the 7th, New York futures rose sharply. Cotlook spot prices rose. On the 7th, the Indian S-6 cotton price rose; holiday factors and the ** campaign affected the cotton market in Bangladesh; the Taiwanese textile companies still dominated the recent purchases; the Russian textile industry as a whole declined; Tajikistan’s cotton export growth in the previous year was significant; Turkmenistan Cumulative export of this year nearly 120,000 tons of land cotton; Mesopotamia cotton in the US Central South cotton weather turned green, picking cotton in southern Texas.

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The recent October contract settlement price was 88.53 cents/lb, up 271 points; the main December contract settlement price was 88.33 cents/lb, up 264 points; the forward March contract closed at 86.00 cents/lb, up 212 points.

Futures settled higher and the main December contract extended this week's gains and broke through 86 cents for the first time this month, then continued to break through 87 cents and 88 cents with buying support, up to 88.50 cents on the day (+ 281 points), although the end of the plate dropped slightly to create the largest increase since June 12. The external market trend had little effect on the large gains in cotton prices on the date. The prices of corn and soybeans were basically unchanged.

Second, the spot on the 7th, CotlookA index 91.15 cents / lb, up 35 points. The imported cotton index (FCIndex) SM reported 98.90 cents/lb, up 35 points; M reported 96.86 cents/lb, up 59 points; L reported 96.28 cents/lb, up 39 points.

The purchase of 7th-day textile companies continued to slow with the previous day's New York cotton futures. However, there are still textile companies that have made enquiries about cotton on-time shipments. It is expected that the cotton futures price will fall by about 200 points, and traders will reduce their quotation. It will appear.

Third, the dynamics of all countries on the 7th India S-6 cotton ginning factory price rose by 700 rupees compared to the previous day; an Indian Prime Minister Singh formed in June interministerial team will be revised by the end of October this year, the Indian textile policy The bill gives suggestions that the group aims to improve the international competitiveness of the Indian textile and garment industry.

The domestic cotton market in Bangladesh continues to be affected by holiday factors and corruption. The economic activity in Benapole, a border region with India, is blocked. At the same time, a series of political campaigns will be held in the local area from the 13th to the 14th of this month.

The buyers of local textile companies in Vietnam still rely on spot shipments. The CIF for India's new flower shipments in November/December was quoted at 194-198 cents/lb. The actual transaction volume was limited.

Russian cotton imports continued to decline in 2012/13, with the main importers being Tajikistan, Kazakhstan, and Kyrgyzstan.

The year-on-year growth of Tajikistan’s cotton exports was significant, with a total volume of approximately 137,000 tons (including the stocks of Chenmian shipped at the beginning of the previous year).

The trading volume on the Ashgabat Commodity Exchange in Turkmenistan was significant on the 7th, with 5,000 tons of upland cotton and 500 tons of long-staple cotton being traded in the previous year; the total volume of upland cotton was approximately 120,000 tons, and 4,760 tons of long-staple cotton.

The rainy cloud zone left the central Mississippi on the 7th, and the operation of the cotton area was hindered by the rain. The local cotton grows in good condition and is expected to produce a considerable amount of production this season; trace precipitation occurs around the Lubbock, Texas, southwest of the region on the 7th, near Amarillo. Heavy rainfall is expected in southern Panhandle, and the progress of crop growth in Western Texas is uneven.