Vigotex - Cotton News 04/10/2022

Vigotex - Cotton News 04/10/2022

Hi our beloved customers:

We would like to update cotton news by Vigotex:

  • ICE 2022 Dec/ 12/ Tháng 12: Closed/收于/Chốt phiên 88.20 c/lb, +4.00 cents/ 美分/ điểm;
  • ICE 2023 Mar/ 3/ Tháng 3: Closed/收于/Chốt phiên 86.19 c/lb +4.00 cents/ 美分/ điểm;
  • ICE 2023 Mar/ 7/ Tháng 7: Closed/收于/Chốt phiên 83.02 c/lb, +4.00 cents/ 美分/ điểm;
  • Estimated volume/ 估计数量/ Khối lượng giao dịch ước tính: 33.950 contracts/ 合约 / hợp đồng.

After plunging over 10 cents during the month of September, the cotton market finally experienced a sharp up session Tuesday. In fact, December Cotton closed at limit up. Its recovery was also encouraged by a strong Dow Jones and a collapsing U.S. Dollar Index. All of that activity is based on a mindset that the world's central banks may slow their plans to hike interest rates.

              Weather-wise, the six- to 10- day and the eight- to 14-day forecast call for above-normal precipitation in west Texas and below-normal in the Southeast. In speaking to a couple of Texas growers they lamented that, despite a smaller crop, the state's harvesting efforts will be a long and drawn out process.

              This Thursday, USDA will issue its weekly export-sales report. Last week's numbers were terrible, showing only about 70,000 bales sold for both combined crop years. China is on holiday this week and will likely not appear as a buyer any time soon.

              This Friday, the Labor Department will report its monthly jobs data. Expectations call for some 250,000 jobs created in September. A number higher or lower, may or may not, alter the Federal Reserve's plan to hike interest rates. Tuesday's August jobs openings showed contraction in the ratio of openings versus job takers. At one time it was 2 to 1, and now it's 1.67 to 1.