Phase Cotton Fell Slightly 1.6%&Nbsp, Worried About The European Debt Crisis.

ICE cotton was lowered on the 7 day and was suppressed by a small number of investors, as Germany ignored the EU summit and the market was blocked.

Comprehensive media reported on December 7th, Intercontinental Exchange (ICE) cotton futures fell on the 7 day, a small number of investors involved in selling. Analysts say concerns about the euro zone debt crisis are on the rise and the market is unable to raise resistance levels.

The US stock market fell on the 7 day in the concussion, because a German official pessimism suppressed the EU summit to reach a settlement within the region. debt Hope for crisis agreements.

ICE

Cotton fell 1.50 cents in March. Decline 1.6%, closed at 92.31 cents / pound. spanaction The interval is 91.75 cents / pound to 93.80 cents / pound. The interval is very close to 6 days, 91.51 cents / pound to 93.63 cents / pound.

According to ICE data, the turnover volume of 7 days is about 8400 hands, which is about 2/3 lower than that of 30 days.

Penson Futures senior cotton analyst Johnson (Sharon)

Johnson said, "commodity markets are fully under pressure and down because of the renewed debt crisis in the eurozone. Cotton (20610, -40.00, -0.19%) triggers the stop loss list during the fall process.

The March contract failed to raise the technical level of about 94 cents per pound, which made technology dealers sell at the end of the sale.

The market is concerned about the export sales data released by the US Department of agriculture (USDA) on the 8 day, followed by the 9 monthly supply and demand report.

It is estimated that USDA will reduce the estimated US cotton output in 2011/2012 and adjust the US cotton export expectation in 2011/2012.

In November, USDA estimated that the US cotton output in November will be 16 million 300 thousand bales, lower than the previous month's 16 million 610 thousand package. US cotton exports were estimated at 11 million 500 thousand bales before 11 million 300 thousand bales.

ICE data show that the 6 day cotton market is not open for 139821 hands, the previous day was 139061 hands.

ICE data also showed that the total turnover volume of 6 days was 12621 hands, higher than that of the previous day's 10239 hands.