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New York period cotton weeks rose on the third day in a row

Published on:2014/12/16 13:21:35

Keyword:In the period of cotton prices, cotton, cotton, cotton, market
Introduction:Week of American New York cotton rose on the third day in a row, the highest level in a month, in anticipation of the mill will further buying, invest...

Week of

American New York cotton rose on the third day in a row, the highest level in a month, in anticipation of the mill will further buying, investors in the market from the harvest season after low back to cover short positions.

In March

was one of the most active ICE - cotton contract rose 0.11 cents, or 0.2%, to end at 60.65 cents per pound, this is the highest settlement price since November 11.

"in anticipation of buying will come - cotton mills has always been reluctant to intervene before buying, hope the price will be lower, further helped cotton in oil prices and the stock market decline steadily," Wedbush Securities cotton expert Sharon Johnson said.

from seasonal performance, the cotton price lows usually out of the year in November at the peak of the harvest at present, Johnson said, period of cotton prices may have from the end of last month hit a five-year low.

cotton prices for the third straight day in March, slightly higher than the 61 cents contract 50-day moving average resistance is blocked, after touching 61.13 high, close to hit a one-month high of 61.25 on Friday.

On December 11,

, the United States department of agriculture, according to data published strong sales of U.S. exports, offset worries about global oversupply situation is increasingly serious.