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ICE Commented: 22 Cotton In August Rose Slightly, Trading Light.

2011/8/23 19:17:00 28

Cotton Was Slightly Higher And Lighter.

According to New York's August 22nd news, cotton

futures

Monday closed slightly higher, the broker said.

Macro economy

News prompted many market participants to stay away.

Wait and see

Trading continued in summer.

Depressed state


The decline in crude oil prices is likely to come to an end because of the civil war in Libya, but gold prices are rising again because investors are worried about the economy and the stock market is cutting their gains.


The Intercontinental Exchange (ICE) index of cotton futures in December was about 0.23 cents higher, at $1.0645 a pound, and between 1.0416 and 1.0782 dollars in intraday trading.


total

volume

More than 8800 hands, compared with the 30 day trading mean lower than 1/3.


Some analysts said that the recent cotton futures rally may have ended, and the turbulent economic outlook may further weaken the cotton futures.


ICE Futures US data show that as of August, 19 cotton market was not open for 144351 hands, and 140442 hands in August 11th, which was the lowest level in more than two weeks.


ICE Futures US data showed a total turnover of 10326 hands on Friday, up from 7113 on Tuesday, the lowest since May 23rd.


 

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