Mon (12.29) ICE Futures U.S. cotton HKFE affected by external merchandise, showing range consolidation pattern, closing almost no Change. March contract rose 7 points, to close at 46.25 cents per pound, in May contract fell 21 points, to close at 46.60 cents per pound.

Cotton today opened higher at 47.03 cents a middle trend line resistance encountered. Or weaken the market, with the decline in the external market, the Chicago Futures Exchange food also failed to hold onto early gains and put pressure on cotton. Also fell from a high level of crude oil, cotton, the pressure intensified, eventually closing almost no Change.

China and India, the Government’s price and acquisition plans to play a good support for cotton. U.S. loan scheme set interval adjustment generally higher than the world’s cotton prices higher than the 1100-1200 points, the resistance line is now largely in the 48-49 cents, trade can sell hedging disk, from the loan scheme to redeem cotton profits. Cotton March period from November 24 on a range of 41-48 cents.

Analysts said that although the market is expected during the holiday week of the remaining few days gradually weakening, but in fact gradually higher prices for cotton, this is a typical seasonal market.