ICE Cotton Fell More Than 1% On The 17 Day And Closed Next Monday.

The ICE cotton futures closed down more than 1% on Friday (February 17th), but traders said the decline was mainly due to the long holiday profits.

ICE cotton May contract February 17th Closing quotation It fell 1.06 cents to 92.65 cents / pound, or 1.13%, with an interval of 92.39-94.29 cents and a turnover of 13 thousand and 205.

March contract fell 1 cents to 91.45 cents / pound, or 1.08%, with a range of 91.31-93.27 cents, a new low on Tuesday and 6797 hands in volume.

ICE cotton will be closed next Monday on other commodities.

Futures dealer Penson Futures senior analyst Bill Raffety Express Investors made a profit before the long holidays, but there was not much news on that day.

Unliquidated contracts for May continued to rise, nearly 4 times that of March contracts. The number of unliquidated contracts in March decreased by 7136 to 21 thousand and 215 hands on Thursday. However, on May that day, the contract was not opened up by 3589 fingers and 83 thousand and 316 hands.

The price of cotton has fallen off since last Thursday, which has led to some overseas buying support, but now the price is back to where the market began to fall.

Raffety believes that when the price of cotton breaks 90 cents, some investors will come in to buy. But after the current price fluctuates after 93-94 cents, there are not many investors.

The data released by ICE show that as of February 16th, market The closing position decreased by 3683 to 182 thousand and 458 hands, and the turnover dropped by 10 thousand and 606 to 19 thousand and 994 on Wednesday.