New York Cotton Fell To Five Year Low On Wednesday

New York Stage cotton On Wednesday, it fell to its lowest level since 2009. Worried that China's policy adjustment will damage the import demand of the country, cotton prices continue to recall the accumulated gains in the past five years, which is the biggest cotton consumption country in the world.

　　 Trading The most active ICE-12 month cotton fell 2.9%, the lowest 61.02 cents since October 2009, and this week's official Chinese statement said it would cut the fall after 2015's import quota.

The contract fell 1.26 cents, or 2%, to 61.57 dollars per pound, which will drop for second consecutive weeks. The contract has fallen by more than 25% so far this year.

　　 Chinese government Earlier this week, it said it would reduce cotton import quotas to 894 thousand tons next year to help stimulate domestic production. China is gradually winding up its large-scale acquisition and storage plan.

Related links:

Australian wool Market

This week the Australian market was relatively stable, with the EMI index rising 1 Australian cents. The Australian Wool Exchange's Eastern market composite index (AWEXEMI) was 1023 Australian cents / kg, up 1 Australian cents (+0.01%); the US gold price closed at 918 cents / kg, down 22 cents (-2.3%); the RMB price closed at 5637 cents / kg, down 264 points (-4.5%). The Australian dollar closed at 0.8974 against the dollar at a record low of 0.8940.

New Zealand wool Market

This week's auction in Napier was relatively strong compared with the auctions on North Island in September 4th. Purchasing power from China is still having an impact on this week's auction. The price of fine crossbred hairs is strong. The next auction will be held in September 25th, with an estimated supply of about 11680 bales.

Domestic wool Market

The domestic market is still calm, and only Australian wool strip has fallen considerably. The Nanjing wool market quotation composite index closed at 71.49 yuan / kg, down 0.02 yuan / kg (-0.03%) compared with last week.

　　澳大利亚原毛分指数81.14元/公斤,与上周相比大约下跌了0.42元/公斤;澳炭化毛分指数62.75元/公斤,与上周基本持平;澳毛自梳条分指数86.86元/公斤,与上周相比大约下跌了0.91元/公斤;国毛条分指数69.79元/公斤,与上周相比上涨了0.26元/公斤;乌拉圭毛条分指数48.72元/公斤,与上周相比大约下跌了0.16元/公斤;新西兰原毛分指数36.55元/公斤,与上周相比大约上涨了0.73元/公斤;新西兰洗净毛分指数40.12元/公斤,与上周相比大约下跌了0.26元/公斤;新毛自梳条分指数47.01元/公斤,与上周相比上涨了0.66元/公斤;新西兰雪莱毛分指数39.70元/公斤,与上周相比下跌了0.10元/公斤;欧洲毛条分指数35.00元/公斤,与上周基本持平。