Cotton Comment ICE: China'S Factory Demand Is Strong &Nbsp; Cotton Futures Are Rising Like Rainbow.

The US Department of Agriculture reported Friday that China's cotton consumption increased by 500000 packs from last month. Analysts said that after the end of China's holiday, there was no sign of decline in purchasing enthusiasm.

The demand for China's textile mills is so large, and India announced that the order of 5 million 500 thousand bales of cotton that has been planned for export has been fully filled, giving market participants more confidence that the price will rise to a 15 year high.

After the US Department of agriculture raised cotton consumption in China,

At the same time, food prices have also risen sharply in recent years, stimulating cotton prices to follow suit, as cotton and grain compete for land.

Data released by the India textile Commissioner's office on Friday showed that India cotton merchants have submitted 3 million 240 thousand packages of raw cotton export applications since entering the year in October 1st.

After the mandatory registration of the India government began in October 1st, cotton exporters scrambled to register the export of cotton.

Cotton merchants tried to ship as much as possible before the 5 million 500 thousand tariff free export quota was completed, in order to prevent the government from restricting cotton exports again.

As prices rise, traders in India are also trying to renegotiate contracts signed with foreign buyers in August.

A ministerial group may meet in October 15th to examine the supply of cotton in the country and decide on the duty to export cotton outside the tariff free export volume.

Last month, Ladd Pavel of the Ministry of agriculture in Changsha said that India could comfortably export 8 million packages in 2011-12 years.

In 2010-11, India is expected to produce 32 million 500 thousand bales of cotton, an increase of 10% over last year. The reason is that the planting area is expanding and the monsoon rainfall is good.

As of October 8th, New York ICE cotton certification stock of 8910 packages, to be certified inventory of 2410 packages, revoked certification of 2113 packages.

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The US stock market basically closed on Monday, and the Dow still closed above the eleven thousand point mark.

Some leading companies are about to announce their third quarter earnings before investors become cautious.

The Dow Jones industrial average rose 2.11 points to 11008.59 points, or 0.02%, while the Nasdaq composite index rose 0.42 points to 2402.33 points, or 0.02%, while the standard & Poor's 500 index fell 0.11 points to 1165.04 points, or 0.01%.

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New York business

The New York Mercantile Exchange's crude oil contract in November fell 40 cents to $82.38 a barrel, or 0.4%.

The contract rose by a maximum of $83.50.