US Cotton Stocks Decline To Support Cotton Prices Difficult
U.S.A
cotton
Stock forecast fell to a 14 year low, making cotton futures price second consecutive trading days.
Limit up
Close to a month high.
New York Intercontinental Exchange (ICE) delivered cotton futures on March for 5 cents in early trading on the 14 day, at $1.4597 a pound, the highest price since November 10th, up 3.6% from the previous market.
According to ICE, the price difference of the 14 day limit for cotton is 5 cents, which is larger than the 4 cent of 13 days.
U.S.A
Ministry of Agriculture
The 10 day report predicts that US cotton stocks will fall to 1 million 900 thousand packs in July 31st next year, the lowest level since May 1996, 14% lower than the November estimate.
The United States is the world's largest supplier of cotton.
Cotton prices surged 93% this year, the biggest annual gain in 1973 and the highest in November 10th, up to $1.5195 a pound.
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