期棉收高 录得月度涨幅

Futures Market - Cotton futures on the Intercontinental Exchange (ICE) rose, achieving a monthly increase due to unfavorable weather prospects in major U.S. production areas and short covering by traders [1] - The most actively traded May cotton futures contract increased by 0.25 cents or 0.38%, settling at 65.61 cents per pound, with a cumulative price increase of approximately 1% for the month [1] - The U.S. dollar index fell by 0.2%, making cotton priced in dollars more attractive to overseas buyers [2] Market Dynamics - Keith Brown & Co. indicated two favorable factors for cotton: potential adverse weather conditions and speculative net short positions nearing historical highs, suggesting a possible short covering rally in the upcoming month [2] - The U.S. Department of Agriculture (USDA) reported a net increase of 282,900 bales in U.S. cotton export sales for the week ending February 19, with current year cotton export sales netting 253,200 bales, a decrease of 46% from the previous week and 12% from the four-week average [2] - The next year's cotton export sales saw a net increase of 29,700 bales [2] Other Agricultural Markets - Concerns over military conflict risks between the U.S. and Iran led to short covering in other agricultural markets, with U.S. and European wheat futures reaching multi-month highs [2] - Oil prices increased by approximately 3%, with traders remaining cautious about potential supply disruption risks, which could reduce the attractiveness of cotton's substitute, polyester fiber [2] Inventory Data - As of February 26, ICE reported that the deliverable stock of No. 2 cotton contracts remained steady at 119,457 bales [3] Spot Market - On February 26, the Cotlook A Index was reported at 76.45 cents per pound, an increase of 60 points [4]