The Overall Decline Of ICE Cotton Market Price

The cotton market closed lower on June 6. The settlement price of December contract was 71.40 cents, down 99 points; The settlement price of the contract in March was 70.11 cents, down 99 points; The settlement price of the contract in May was 71.35 cents, down 103 points; Other contracts fell 59-93 points.

In March, the contract was basically flat. Due to the pressure of funds leaving the market, the market fluctuated and declined. In addition to the drag of the external oil market, futures cotton maintained its decline and closed down again.

The employment situation report released by the U.S. Bureau of Labor Statistics shows that the sharp rebound of non farm labor in November was stronger than market expectations, and the unemployment rate rose to 4.2% as scheduled. Specifically, after the quarterly adjustment in November, the non-agricultural employment population in the United States increased by 227000, the largest increase since April, higher than the market expectation of 200000. The data in October was revised up from 12000 to 36000. On the whole, the economic recovery of the United States is very resilient, but the slight rise in the unemployment rate has pushed up the probability of interest rate cuts this month.

The peripheral dollar index rose, while corn, soybean and wheat futures closed higher. The three major stock indexes of the US stock market rose and fell, the Dow closed lower, and the Nasdaq and S&P both ended higher. International crude oil prices ended lower, while US oil and oil distribution both ended lower.

The total turnover on the 6th was about 38200. As of the 5th day, there were 71 contract positions in December, unchanged from the previous day; In March, 130227 contracts were held, 1205 fewer than the previous day; In May, there were 42027 contract positions, 123 more than the previous day; The total positions were 232134, 1076 fewer than the previous trading day. ICE registered 14463 packages and added 1189 packages.


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Post time: 2024-12-11 10:28