The Market Is Worried About Disaster Weather Affecting Production &Nbsp; &Nbsp; New York Cotton Again Limit.

Due to market

Yesterday Beijing time 11:40, the New York cotton contract in December reported 1.2926 U.S. dollars / pound, rose 4 cents, reached the limit of increase; in the afternoon, when the domestic market opened, Zheng cotton went straight to the limit, and the 1105 contract reported 28585 yuan / ton, a record high.

In October 26th, the New York cotton contract for December reached a maximum of $1.305 / pound, a record of 145 years.

Market participants said the adverse weather in China and the United States affected cotton production and stimulated speculative capital to enter.

Cotton is one of the favorite commodities of speculative capital, according to an analyst at Tokyo commodity Futures Company, central business and Commerce Corporation.

In the past month, international cotton prices rose by 23%, the biggest monthly gain since June 2007.

Since the beginning of this year, cotton prices in the international market have fallen short of demand, and cotton prices have risen by 71%, becoming the best commodities in Reuters /Jefferies CRB commodity index.

China's cotton output will drop to 6 million 400 thousand tons this year, down 7.9% from the previous year, according to Cotlook, a British Industry Research Institute.

According to the US Department of agriculture, China's cotton supply and demand gap is 4 million 30 thousand tons this year. China's massive imports will reduce global cotton stocks to 14 year lows in the coming year.