August 31, 2012 ICE: The Weather Is Good And Cotton Prices Continue To Be Strong.

Friday (8.31) ICE Intercontinental Exchange in New York cotton Futures opened at a low price, and the October contract opened at 76.10 cents, the highest 76.48 cents, the lowest 76.02 cents, ending at 76.48 cents, up 0.33 cents from the previous trading day. The main contract in December was opened at 76.90 cents, the highest 77.29 cents in the market, the lowest 76.25 cents, and finally closed at 77.26 cents, up by 0.32 cents from the previous trading day.

In the first month of the 2012-13 sales year, cotton futures in the ICE Intercontinental Exchange climbed 7.7% in August, even though the global supply of cotton was huge. Price Futures Company's Jack Scoville said there are signs that world production will decline and end inventory will decrease over time. Analysts say that because of the lack of monsoon rainfall in India, China's reserve program and the drought in the western region of the largest cotton growing region in the United States are raising the price of cotton in Dezhou. Today's ICE Intercontinental Exchange closed 0.4% cotton in December, closing at 77.26 cents / pound. The market will continue to focus on the weather next week, and attention will be shifted to Western Dezhou.

On Friday, the US stock market closed up on Friday, so the market lasted third months. The market expects the Federal Reserve to launch a new round of quantitative easing policy, and Europe will take policy action to solve the debt crisis. On Friday, Bernanke issued a market - focused speech. He reiterated in his speech that the central bank will take action when necessary. Two weeks after Bernanke's speech, the Federal Open Market Committee (FOMC) will hold a meeting. Bernanke said that unless the economic growth is much faster than the recent growth rate, the unemployment rate will remain at a higher level.

Technical aspects: ICE Intercontinental Exchange December cotton futures trend bullish, supporting position in 75 cents, the key support position is 73.50 cents. Rising energy is weakening. If we push the market recovery, we need a decisive breakthrough of 77.50 cents. The medium term trend still indicates that the trend starting from the low point in June is an anti trend operation. Upward potential seems to be limited to the 79.00-85.00 cents interval (12 December contract).

August 31st cotton spot market SLM 1-1/16 "cotton" (chroma 41, leaf chip 4. fibre 34) the average price is 72.59 cents / pound, the highest annual price in August 31, 2012 is 72.59 cents; the annual minimum price is 65.79 cents in August 1, 2012; 1 3/32 "cotton (chroma 31, leaf chip 3, fiber 35) average price 77.40 cents / pound.

In August 31st, 456 cotton bags were sold in the US spot market, and 38363 bags were sold this year, and 10922 bags were sold in the same period.

In August 30th, NY certified inventory of 21169 packages, to be certified inventory of 549 packages.

In August 31st, the United States spot market Pima cotton, 2 (fiber 46) 116 cents / pound, 3 (fiber 44) 98 cents, 3 (fiber) 103 cents, 0 bags, the annual turnover 170 bags.

The US Department of Agriculture announced the global adjustment price (AWP) of 65.73 cents on -9 06 August 31st.

In August 31st, the Cotlook cotton Outlook Index strengthened, and the A index rose 20 points to 86.50 cents / pounds.

In August 31st, China's cotton price index CC Index 328 nationwide weighted average price closed at 18520 yuan / ton, up 33 yuan. CC Index 527 closed at 16190 yuan / ton, up 24 yuan, and CC Index 229 closed at 19494 yuan / ton, up 19 yuan.

In August 31st, China imported FC Index M (90.79 cent), up 0.56 cents.

In August 31st, Zheng cotton 1301 contract opened at 19510 yuan / ton, closing at 19525 yuan / ton, up 30 yuan / ton compared with the previous trading day, the highest price 19595 yuan / ton, the lowest price 19485 yuan / ton. Turnover increased slightly to 90586 hands, and holdings dropped by 8260 to 249660.

In August 31st, the Zhengzhou PTA1301 contract opened at 7502 yuan / ton, closing at 7468 yuan / ton, down 24 yuan / ton compared with the previous trading day, or 0.32%. Trading volume dropped to about 1 million 416 thousand and 700 hands, and holdings dropped by 52998 to 623 thousand and 800.

In August 31st, the Dow Jones industrial average rose 90.05 points, closing at 13090.76 points, or 0.69%. The NASDAQ (micro-blog) composite index rose 18.25 points to 3066.96 points, or 0.60%, while the standard & Poor's 500 index rose 7.09 points to 1406.57 points, or 0.51%.

In August 31st, Nymex crude oil (96.56,1.94,2.05%) futures Prices rose 2% to $96.47 a barrel. Gold (1692.60,35.50,2.14%) futures rose 1.8% to 1687.60 dollars an ounce.