Cotton futures rose 3 times in India's seed cotton acquisition accelerated

At present, India's seed cotton acquisition progress has accelerated, S-6 prices have fallen; the weather in West Texas is cloudy and the temperature is cool.

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The main contract in December settled at 83.71 cents/lb, up 10 points. The contract of the 1903 contract closed at 84.69 cents/lb, up 13 points. Market turnover has increased from the previous day.

After a smooth opening, the market briefly lowered, and then bounced back to the day's high at 84.08 cents with the support of a wave of buying. The dollar’s ​​higher pressure weakened the commodity market, weakening the cotton futures pressure and continuing to decline in the second half, and buying at the end of the session. Market entry prompted the market to rebound and the contracts generally closed higher at the end of the session. The 1403 month contract expanded to 98 points from the price difference in 1312, which was an increase of 3 points from the previous day.

Second, the spot on the 15th, CotlookA index 89.70 cents / lb, up 25 points. The imported cotton index (FCIndex) SM reported 99.31 cents/lb, up 25 points; M reported 97.38 cents/lb, up 31 points; L reported 96.03 cents/lb, up 49 points.

Due to the lack of direction of the ICE cotton futures, the price of upland cotton continued to rise slightly on the 15th. The demand for textile companies is still limited, and most of them are in immediate demand purchases. It is expected that the new spot prices will be reduced after a large number of IPOs. A few *** national markets closed this week. The potential demand for Chinese textile companies is still strong, mostly shipped before the end of the year.

Third, the national dynamics on the 15th India S-6 cotton flower ginning factory pick up price 44500 rupees / candy, compared with the previous day fell 500 rupees, about discounted 93.3 cents / lb, down 140 points. On the same day, the nationwide purchase of seed cotton was 10,200 tons.

On the 15th, in the western region of Lubbock, Texas, the local daytime temperature was 16 degrees Celsius, and cotton leaves were postponed due to rain. It is expected that field operations will continue in the near future and the picking area will expand. In the Central and Southern Cotton Region, rainfall occurred the same day, picking work in the southern and central cotton regions was blocked, cotton production slightly increased, and cotton growth status was generally good. The fine weather in the southeastern cotton region of Alabama ended with rainfall in the central and northern regions. Southern Georgia experienced rainfall in the later part of the week, with significant precipitation in the northern region.