The main cotton fall slightly, Pakistan's cotton prices fall

On the 11th, due to the strengthening of the U.S. dollar and external commodity markets generally fell, the main contract of the ICE futures cotton contracted slightly lower. The market is looking forward to the US Department of Agriculture (USDA) supply and demand forecast report and the U.S. cotton export weekly report; the spot price of the Cotlook upland cotton is stable There was a rise in the market, and the overall market was still light.

I. ICE Cotton Futures On the same day, the ICE cotton futures both closed down 9 points in March and May, closing at 96.87 cents/lb and 96.41 cents/lb respectively.

The market opened steadily; intra-day US dollar strengthened, commodity prices fell generally, dragged by the external market, ICE cotton main March contract fell to the lowest point of the day 95.20 cents / lb; after the low buying prices to promote the rebound, recover part The decrease eased slightly during the session.

The US Department of Agriculture (USDA) will announce the Global Cotton Supply and Demand Report and US Cotton Export Weekly Report on Thursday. It is generally expected that the report will reduce the US cotton output and increase the export volume, so the ending stocks will decrease.

Second, the spot review on the 11th Cotlook A index 101.20 cents / lb, up 20 points. The imported cotton price index (FC Index) was 112.10 points/lb in the SM grade, up 55 points; the M-class 107.86 cents/lb, up 80 points; and the SLM grade 106.39 cents/lb, up 39 points.

On the same day, spot cotton spot prices rose steadily, and African cotton caused buyers concern. “Back-to-back” transactions are also the main features of the market. The world’s major import market transactions were generally bleak and contract performance issues continued to exist. Bangladesh’s cotton imports have been affected by the lack of liquidity in the banking system.

Third, the national dynamics yesterday, India Shankar-6 ginning factory pick up price of about 36850 rupees / candy, discount 89.00 cents / lb, up 1.15 cents from the previous day; Punjab J-34 new flower price is 38030 rupees / maund, discount 88.20 cents/lb, down 0.7 cents from the previous day.

Pakistan's domestic cotton prices fell slightly yesterday, and Punjab's high-grade new home ginning factory pick-up price was about 5600-5900 rupees/maund, which was 75.85-79.95 cents/pound, down 100 Rs. As the cotton price of the Inba has risen sharply in the past few weeks, the government is not inclined to regulate cotton prices through the acquisition of Pakistan’s state-owned trading company (TCP).

After the cabinet meeting last week, the spokesperson pointed out that the Egyptian government will issue 300 million Egyptian pounds to support the acquisition of seed cotton, which also helps domestic textile mills increase their purchases of domestic cotton.

Rain showers occurred in the Central South of the United States the previous evening, with heavy rainfall in some areas; the West Texas Southwestern region is mainly dry and windy in the next few days.