0203 Cotton Morning Comments
Overnight outside the disk of cotton by buying up support, 3-month contract closed at 49.71 cents / lb, according to ICAC said ,08-09 year decline in global cotton trade is expected 21% to 6,600,000 tons, of which China’s cotton imports over the previous year reduced 41% to 1,500,000 tons; yesterday Zheng cotton market boost by the surrounding high land, the Central One paper on cotton support the provision of support for Mr Cotton; spot the lack of news, good gradually consumed, the textile industry development and cotton warehouse receipts will be having focus is expected to continue low Zheng cotton consolidation, operation of the proposed wait-and-see or in the vicinity of 12,000 to maintain a single train of thought empty.