US Cotton Supply Is Tight &Nbsp; Price Is Rising Again.
According to the American welfare Stone Company reported in March 7th, last week (March 1-5), the ICE cotton continued the previous week's rally, the March contract finally closed on the 5 day at 215.15 cents / pound, once again refresh the highest record.
The main reason for the rise in cotton prices is the shortage of cotton in the main markets of the world. In recent years, the shortage of China's high-grade cotton spot supply has led to most of the spot varieties in the country, and the cotton production forecast in India has been lowered again, leading to Pakistan cotton.
Imported
The outlook is bleak; the sales price of ICE futures contracts in May and July is close to the highest level in history, indicating that textile mills will be forced to determine the contract price at the highest historical prices in the coming weeks.
In addition, the dollar continued to weaken and bulk last week.
commodity
Soaring prices have also stimulated cotton prices.
The CRB index closed at 681.5 in March 5th, hitting a record high. Crude oil futures broke through the $100 / barrel mark, setting the highest record in the past 29 months.
Affected by this, the US dollar index fell to its lowest level in nearly 4 months, increasing the possibility of inflation and easing monetary policy.
In the coming months, if the US dollar continues to weaken, global cotton prices are expected to remain at a recent high.
In addition, although the 2011/12 year
Global cotton planting
The area is expected to increase significantly, but if the weather is not good, cotton prices may continue to rise.
The weather forecast shows that dry and hot weather will occur in most cotton producing areas in the United States in the coming months, which may affect cotton yield and increase the rate of abandoned cultivation.
In addition, continuous drought in North China may also affect cotton planting and yield per unit area. Therefore, overall, tight supply will last until the end of this year.
- Related reading
New York March 4Th ICE Cotton Futures Trading &Nbsp; Driven By Speculative Buying.
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