Jiangsu Liqiang Textiles Co. LTD
How will cotton prices be affected by American cotton?
Issuing time:2020-10-22 14:11
October also marks the start of the harvest season for new cotton, which in recent years has typically hit annual lows around Thanksgiving.Technically, cotton prices need some new momentum to break through the strong upward resistance.
: so far, the United States in 2020 by a series of weather events of the crop and the effect of early is hurricane "Hannah," the hurricane broke into the valley, southern Texas bring loss to Rio DE Rio grande river valley cotton, after four hurricane "Laura" bring a cotton-producing area in eastern Texas and Louisiana storm, hurricane "Sally" later attacked the delta and southeast cotton, although the strength is not big, but still bring heavy rains to more cotton fields.
Now, the remnants of tropical storm Beta are bringing heavy rain to Tennessee and the cotton belt of the southeastern United States.After all this weather, traders see no doubt that U.S. cotton production will decline by 2020, every day, and quality estimates are questionable.
As of September 17, the contracted cotton export volume of the US in 2020/21 has reached 7.722 million bales, 8.4 million bales in the same period last year, 8.9 million bales in the same period in 2018, with an average of 6.45 million bales in the recent five years. At present, the contracted progress of cotton swabs in the US has reached 57%, with an average of 48% in the recent five years.Overall, the United States cotton export progress is not slow.