This Year, Global Stocks Are In Urgent Demand, Cotton Prices Soar For 15 Years To Rewrite New Highs.
New York cotton futures have broken through 1 US dollars per pound, the first time since 1995.
Textile mill
Demand exceeds supply and consumes global inventories.
Zhengzhou cotton in China also rewrote the new high.
The delivery of cotton in December surged 3.8% to $1.0198 a pound, the highest price since June 1995.
Stage cotton
The price of $1.0130 a pound has risen 62% in the past year.
Zhengzhou's cotton delivery in May rose 3.4% to 20 thousand and 600 yuan (3068 US dollars) per metric ton.
US Commodity Futures
paction
According to the data released by U.S. CommodityFutures Trading Commission (CFTC), the net long position of New York futures hedge fund managers and other major speculators increased by 2% in the week ending 14.
According to the Commitments of Traders report released by CFTC, the ICE futures exchange of the United States predicts that there will be 55 thousand and 939 more speculative positions in the cotton futures market than in the short positions.
DavidWatson, a senior consultant at Sydney FCStone Australia, said by telephone: "no matter India, Pakistan or China, there is a serious shortage of raw cotton for textile mills, and there is still a month to go before delivery of new crops.
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