Wednesday (2.25) ICE Futures Exchange American cotton Quotes Comments

Wednesday (2.25) ICE Futures Exchange American cotton are mostly weak, the reasons are the lack of new news, the market has oversold state. The most active May cotton fell 22 o’clock, at 43.56 cents per pound reported recently in March fell 22 o’clock, at 42.56 cents per pound reported.

Today, the cotton market opened higher after 5-month contract rose to 44.17 cents. But soon fell back to 43.51 cents, which is near 11-week low, set a new lowest point Tuesday, the market recovered some of the subsequent decline, city pick-up, but once again fell before the close. Analysts say the lack of cotton market information to guide a new low, data released Thursday are likely to affect prices.

Investors will be watching tomorrow released weekly export sales to see whether or not to continue substantial Chinese American cotton procurement. Analysts said that if the United States weekly sales to China is still a lot, then not only the market bottom, and then a few weeks the market will be supported.

Because of the economic crisis weakened the textile needs of the United States cotton textile industry of China sales slowdown, but China remains the largest importer of U.S. cotton country, the cotton textile demand led to reduced demand, world prices, increasing pressure on cotton market. Analysts said that the cotton futures should be a technical rebound, but it seems that the lack of stimulating factors rebound.

The United States National Cotton Council will be released Thursday morning, the United States monthly domestic cotton consumption data, consumption should not exceed the number in recent months, but not more than 3.9 million packages. May contract resistance close to 47 cents, or support in the contract low of 40.25 cents.

Stock Exchange reports, Tuesday, ICE Cotton date 7406 increase in inventories (500 pounds) package, to total 7406 packets, 13,524 packets Stock to be registered. Stock Exchange reports, Tuesday, cotton increased disk space 498, to total 115,564 positions. Stock Exchange reports, around 4550 Volume cotton hand, options trading, call option around 3206 hands, puts hands around 1542.
             Change the closing price trading range
  Mar 42.56 -22 points 42.56-43.02
  May 43.56 -22 points 43.51-44.18
  Jul 44.93 -16 points 44.86-45.45
  December 49.24 -6 points 49.16-49.69