Global Cotton Inventory And Quality Problems Are Worrying.
As of September 14th, the United States
cotton
The registered inventory was 16 thousand and 569 packs, a decrease of 25 packages, and a record low in recent years.
At present, market participants are not sure whether the market rally is over or not, and analysts say they are still going to see the next step in the market.
India
Cotton crops were once damaged by humid weather. Rainfall delayed harvest and caused excessive moisture due to excessive moisture in cotton batting.
However, the recent dry and clear weather will alleviate these concerns and speed up the harvesting process.
In addition, rainy weather in parts of China has also raised concerns about cotton quality. China is the largest cotton producer and importer in the world. Last week, the US Department of agriculture estimated 500 thousand tons of cotton production in China, and it also reduced Pakistan's production forecast to 200 thousand packages.
On Wednesday, ICE cotton fell from its 15 year high.
U.S.A
Cotton futures in New York Cotton Exchange (NYCE) opened up at the end of December, which rose to a 95.79 cent high in the December cotton market. Then it was depressed by profit taking, and after a concussion of 0.88 cents per pound, it ended down 0.88 cents, closing at 93.62 cents per pound.
Cotton in October also fell 0.98 cents, closing 92.81 cents.
Cotlook A new flower index (10/11 crop) also rose 1.7 cents, closing at 103.7 cents per pound, hitting a record high in recent years.
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