2 ICE Cotton Evaluation: The Fall Period Of The Peripheral Market Cotton Exploration For 14 Weeks
Monday (3.02) ICE US cotton futures market hit 14 week lows, investor confidence continued to decline, the stock market plummeted, and the US dollar was strong.
The most active May contract fell 177 points, to 41.49 cents per pound, the lowest point at 41.11 cents, the lowest point since November 21st. The recent March contract also fell 177 points, at 40.29 cents per pound.
Today, the contract opened in May, the highest point in the market was 43.20 cents, but failed to maintain the high position. The weakness of crude oil and the decline of commodity prices indicate that the whole economy is unstable and the cotton futures are down alternately.
The New York Stock Exchange opened and cotton fell. The May contract fell to a 41.11 cent low. Although the repair part of the decline, but still closed in the big line.
Analysts say cotton continues to be affected by the external market as investors continue to follow the macroeconomic trend.
One analyst said that after the crash on Monday, the stock market could rebound at other times this week, but the rebound would be short-lived and cotton would go down again.
The exchange reported that Friday ICE cotton daily storage increased by 4801 (500 pounds) to 217900 packets. 9795 bags to be registered.
The exchange reported that Friday's ICE volume decreased by 411 to 116304 of the total position.
The exchange reported that about 11262 hands were traded on cotton futures. Option trading, call option is about 4877 hands, put option is about 2434 hands.
Closing price range 03 months 40.29 -177 40.29-41.39 05 months 41.49 -177 41.11-43.20 07 months 42.91 -180 42.58-44.21 December 47.20 -176 46.93-48.18
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