Recent Trend Of Cotton At Home And Abroad

According to the chief executive of Iran's cotton fund, the country's demand for cotton is more than 180000 tons per year, while the local production is between 70000 tons and 80000 tons. Because the profit of planting rice, vegetables and other crops is higher than that of cotton, and there is not enough cotton harvesting machinery, the cotton plantations in this country are gradually changing to other crops.

Pakistan's finance minister, mifta Ismail, said the government would allow Pakistan's textile industry to import cotton to meet its demand as about 1.4 million acres of cotton growing areas in Sindh province were damaged by floods.

US cotton fell sharply, due to the strong US dollar, but the bad weather in the main production areas may still have support for the market. Recent hawkish comments from the Federal Reserve have boosted the strength of the US dollar and depressed commodity prices. However, weather concerns have supported cotton prices. Heavy rainfall in the western part of the United States, cotton and Texas, Pakistan is affected by floods or produce 500000 tons of production reduction.

With the listing of new cotton, the domestic cotton supply is sufficient, and the weather in North America is improved, and the expectation of production reduction is weakened; Although the textile peak season is coming, but the downstream demand recovery is less than expected, as of August 26, the weaving mill operating rate was 35.4%.

At present, the cotton supply is sufficient, but the downstream demand has not improved significantly. Superimposed on the strength of the US index, cotton is under pressure, and the cotton price is expected to fluctuate in a wide range in the short term.