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Cotton Futures Lower Due To Slump In Macroeconomic Outlook

2011/11/22 10:04:00 19

According to the news of New York on November 21st, cotton futures on Monday hit a limit of lower limit, traders said.

European debt

Doubts and worries about the US budget impasse highlight the global recession or damage to cotton demand, and investors settle their positions.


Global cotton stocks fell on Monday and were dragged down by worries about the debt situation in Europe and the United States.


Intercontinental Exchange (ICE) index December cotton futures

Fall

4 cents, 90.81 cents a pound, 95.78 daily.

Cent


At present, the most active March cotton fell 2.86 cents, at 90.41 cents a pound, with an interval of 90.16-93.71 cents.


Preliminary data show that the total turnover on Monday is about 29400 hands, which is 1/3 higher than the 30 day average.


The exchange data show that as of November 18th, cotton futures were not open for 138160 contracts.


Intercontinental Exchange data showed that turnover was 27495 hands last Friday.

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