New York ICE: Strong Demand For &Nbsp; Main Contract Again Limit
Friday (3.04) the main cotton futures in New York ICE Intercontinental Exchange once again closed down.
Cotton supply
Insufficient and good global economic outlook for 2011 provides support for the cotton market.
March contract closed at 215.15 cents, up 6.95 cents; May contract opened at 207 cents, the intraday concussion interval was 202.70 cents -206.40 cents, finally closed at 202.70 cents daily limit, 7 cents, turnover 12701 hands, 71278 empty hands; July contract closed at 202.97 cents, or 7 cents.
Analysts said that the rising demand for cotton and the good global economic outlook prompted a strong upward trend in cotton prices, and the contradiction between supply and demand will remain for some time.
At present, the market will turn to the monthly report on cotton supply and demand that will be announced by the US Department of agriculture and the cotton planting prediction report released in March 31st.
contract
- Related reading
US Cotton Has Hit A Record High Of &Nbsp; The Pressure At The Top Of The Inner Panel Is Bigger.
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