8.25ICE Cotton Closed Three Consecutive Down

ICE cotton futures closed for 25 consecutive days for third days, due to

Integrated media reported on August 25th that the 25 day closing of the Intercontinental Exchange (ICE) cotton was "three consecutive down", which was depressed by investors' selling. Analysts said the weak tone might further lower cotton futures.

ICE index cotton fell 2 cents in December, closing at $1.0299 / pound, and the trading range was between $1.0174 and 1.0639 to $1.0639.

According to the well-known media data, the total turnover is more than 15200 hands, which is about 15% higher than the 30 day trading day.

Louisiana independent analyst Stevens (Mike Stevens) said, "

Analysts said the December contract experienced a 50% volatility from the recent low of $0.93 / pound to the recent high of $1.09 / pound.

The US Department of agriculture (USDA) one week export sales report showed that the net sales of Upland Cotton fell sharply, reducing by 230300 packages, and the weak cotton consumption data in the United States brought more pressure to cotton market.

Traders said that if the cotton price fell below the $1 / pound integer mark, it would pave the way for further exploration, including about $0.93 / pound and 0.9 dollars / pound after that.

They say that the threat posed by Hurricane Aileen to cotton in North Carolina and South Carolina does not seem to be serious, and the cotton market largely ignores its impact. Irene

Investors' interest in the cotton market has improved slightly, ICE Futures America.

ICE Futures US data also showed that the total turnover volume of 24 days was 15308 hands, which was more than doubled from 6410 hands in June 25, 2010 compared with 23 days.