Tuesday (1.13) ICE Futures U.S. cotton HKFE City by external pressure and profit-taking pressure, closing the week hit a new low, trading range narrowed. March contract was down 44 points at 46.23 cents per pound reported, in May contract was down 28 points at 47.09 cents per pound reported.

Today, March contract opened higher in early trading lines all the way. Intraday high of 47.35 cents in the commodity market strength, but weak sales to curb rising energy market. The market subsequently fell flat line near the low of 46.58 cents on Monday to sell about trigger stop-loss point. HKFE Chicago corn prices, stimulate the cotton market profit-taking, March contract fell to a low of 46.21 cents, which is the contract since January 2 the lowest price since. Before the close of trade do more energy in the vicinity of the stock market lows. Analysts said that the situation in the world economy in the doldrums, cotton consumption is reduced to curb cotton uplink space. Demand situation in the top of the cotton market to form a lid.

Textile mills in the market below the flats are bought and used, do not keep food overnight. Index and hedge funds are watching out once to see the outbreak of specific inflation signal, they all reached the commodity markets. The first quarter of 2009, March cotton trading range will be between 46-59 cents.

U.S. Census Bureau report, the U.S. Department of Agriculture in November of total cotton exports 1,044,000 package (480 pounds), higher than October’s 1.015 million bags, also higher than the same period last year of 938,393 packets. Exchange report Monday, ICE cotton on reducing inventories 20,771 (500 pounds) package, to total 689,612 bales withdrawal card stock 19,876 bales registration packet Stock 3060.