Cotton Futures Rebounded CAI Forecast Production 6 Million 600 Thousand Tons This Year

< p > traders expect < a href= > //www.sjfzxm.com > > cotton > /a > short term supply is tight. At the same time, the market will adjust its position before the announcement of the USDA monthly report. The 10 day ICE cotton contract will rebound and other contracts will be relatively stable. CAI predicts that India's cotton output will be 6 million 600 thousand tons this year, increasing by 80 thousand tons, while Pakistan will export 114 thousand tons of cotton and nearly 90 thousand tons of shipment.

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< p > < strong > 1, ICE cotton look back < /strong > /p >

< p > the main contract price for the 1407 month contract was 86.30 cents / pound, up 175; the 1410 month contract settlement price was 76.93 cents / pound, down 5; the 1412 month contract closed at 77.25 cents / pound, down 4.

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< p > the main contract in July ended up fluctuating around 85 cents / pound in the first half of the contract. The second half rose sharply in the wake of the market speculation and the short term supply of US cotton.

The 7/12 contract price difference was 905, which was 179 wider than the previous day.

When the date cotton turnover reached 56 thousand hands, the highest value since April 10th.

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< p > < strong > two, spot comment < /strong > < /p >

< p > 10 days, CotlookA index 89.45 cents / pound, fell 10; imported cotton price index (FCIndex) SM reported 97.21 cents 11; M 91.54 cents down 7; SLM newspaper 88.74 cents fell 20.

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< p > the first day, the new month 7/12 month < a href= "//www.sjfzxm.com/news/index_s.asp" > Contract Price < /a > 726, and the 10 day trading volume has not increased.

The market continues to focus on cotton and West African cotton, Tanzania, Zimbabwe and Zambia cotton.

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< p > < strong > three, and each country's dynamic < /strong > /p >

< p > according to the India Cotton Association May forecast report, it is estimated that this year's output will be 6 million 600 thousand and 300 tons and the total supply will be 7 million 607 thousand and 500 tons.

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< p > according to the Pakistan Trade Development Council, from August last year to June 7th this year, the country exported 114 thousand tons of cotton and shipped 89420 tons.

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< p > last week, Japan's < a href= "//www.sjfzxm.com" > textile enterprises < /a > procurement volume increased, mainly for the third quarter shipment of US cotton (90-104 cents / pound), Australia cotton and Brazil cotton.

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