Spot cotton prices fell again

On May 15th, the domestic spot price of cotton fell again. In the near future, domestic textile cotton was mainly digested by national reserve cotton, and downstream companies adopted the method of buying and using. The state reserve cotton auction continued, and the average transaction volume and transaction price both continued to decline. Although the cotton price outside the port was relatively stable, the overall transaction also shrank significantly from the previous period. The overall market was still light, and the spot market might be under pressure for a long time. Affected by the expected increase in imports after China's quotas were issued, ICE** made an uproar early in the morning, but the rising kinetic energy quickly dried up, and the cotton price eventually received four negative yin. At present, the characteristics of the top of the market are becoming apparent, and attention is paid to the verification of demand by the US Cotton Export Weekly report tonight.