December 15Th ICE Cotton Futures Continue To Shrink Consolidation

Import demand has continued to decline, cotton retail consumption is still not improving.

India's policy towards cotton is conducive to the export of US cotton and India cotton has no price.

In the case of cotton traders, they did not intend to sell short in the futures market.

The insipid response of the market to the USDA monthly report does not mean that prices will rise. On the contrary, traders are very strong at the price of cotton prices at historic lows.

Another big drop.

After five months of strong appreciation, the dollar seems to be beginning to retreat, and there may be a substantial adjustment.

In the face of it,

The government's various economic promotion programmes will devalue the US dollar, so cotton, crude oil and gold will benefit from this.

In industrial metals, copper and aluminum fell by 2.17% and 1.81% respectively.

In precious metals, gold was 14.50 dollars last week, and silver rose by 0.40-10.63 dollars.

In the grain market, soybeans fell $8, corn rose by $1.75, and wheat rose by $7.

Recently, prices have begun to move closer to the middle of this area.

We believe that cotton prices will find support at a slightly lower price, and the possibility of further downtracking in the near future remains.