ICE Cotton Review September 14, 2012: Quantitative Easing Policy Stimulates Cotton Prices To Rise Substantially

Friday (9.14) ICE Intercontinental Exchange in New York

Futures rose sharply, the October contract closed at 73.65 cents, the highest 75.47 cents, the lowest 73.65 cents, and finally closed at 75.39 cents, up 2.44 cents from the previous paction. The main contract in December was opened at 73.53 cents, the highest 75.95 cents in the market, the lowest 73.53 cents, and finally closed at 75.90 cents, up by 2.37 cents from the previous trading day.

Cotton futures are particularly sensitive to economic data. Cotton futures rose sharply after the Federal Reserve announced further quantitative easing policies to stimulate the US economy.

Mike Stevens, an independent analyst, said that today the market is Bernanke's rebound, and the short end is rushing to quit.

He added that China's continued purchase may provide support for the market.

The market expects next week's export sales figures to be respectable.

He expected the price to be 77 cents / pound in the near future.

ICE Intercontinental Exchange's cotton delivery in December rose 3.2%, to 75.90 cents / pound, the highest since September 7th.

Commerzbank said that market sentiment has generally turned positive.

On Friday, the US stock market rose to a 5 year high.

This week the Dow rose 2.2%, the S & P 500 rose 1.9%, and the NASDAQ gained 1.5%.

The QE3 plan launched by the Federal Reserve on Thursday is welcomed by the global market.

The QE3 plan launched by Federal Reserve Chairman Bernanke and his colleagues stimulated investors' interest in risky assets. The US dollar fell and crude oil (99.06,0.75,0.76%) futures prices approached us $100 a barrel, and treasury bond prices fell.

September 14th cotton spot market SLM 1-1/16 "cotton (chroma 41, leaf chip 4, fiber 34) average price 71.39 cents / pound, the highest annual price 72.59 cents in August 31, 2012; the lowest price in August 1, 2012 65.79 cents; 1 3/32" cotton (color 31, leaf cuttings 3, fiber 35) average price 76.19 cents / pound.

In September 14th, 4212 cotton bags were sold in the US spot market, and 65756 bags were sold this year, and 25940 bags were sold in the same period.

In September 13th, there were 17245 packages of NY certified stock and 0 packages to be certified.

September 14th American spot market Pima cotton, grade 2 (

46) 118.50 cents / pound, 3 (fiber 44) 100.50 cents, 3 (fiber) 105.50 cents, 0 pack, and annual turnover 2465 packets.

The US Department of Agriculture announced the global adjustment price (AWP) of 64.53 cents on -9 20 September 14th.

In September 14th, the Cotlook cotton outlook index rebounded and the A index rose 0.05 points to 83.05 cents / pound.

In September 14th, China's cotton price index CC Index 328 nationwide weighted average price closed at 18637 yuan / ton, up 0 yuan.

CC Index 527 closed at 16329 yuan / ton, up 0 yuan, and CC Index 229 closed at 19579 yuan / ton, up 1 yuan.

In September 14th, China imported FC Index M (88.20 cent), up 0.25 cents.

In September 14th, Zheng cotton 1301 contract opened at 19490 yuan / ton, closing at 19490 yuan / ton, up 30 yuan / ton compared with the previous trading day, the highest price 19620 yuan / ton, the lowest price 19450 yuan / ton.

Turnover reduced to 67940 hands, and positions decreased by 8042 to 231868.

In September 14th, Zhengzhou PTA1301 contract opened at 7950 yuan / ton, closing at 8094 yuan / ton, up 326 yuan / ton compared with the previous trading day, or 4.2%.

Turnover increased to about 1 million 923 thousand and 200 hands, and positions were reduced by 89478 to 695 thousand and 700.

In September 14th, the Dow Jones industrial average rose 53.51 points, closing at 13593.37 points, or 0.40%. The NASDAQ (micro-blog) composite index rose 28.12 points to 3183.95 points, or 0.89%, while the standard & Poor's 500 index rose 5.78 points to 1465.77 points, or 0.40%.

In September 14th, Nymex crude oil

The price rose by $0.69 to $99 a barrel.

Gold (1773.50,1.40,0.08%) futures rose 0.60 US dollars to settle at US $1772.70 an ounce.