（来源：锦桥纺织网） 来源：锦桥纺织网 一、期货 2月26日(周四)，洲际交易所(ICE)棉花期货下跌超过1%，受美元走强的拖累，价格在最近上涨后遇到阻 力。 交投最活跃的5月棉花期货合约下跌0.81美分或1.2%，结算价报65.36美分/磅，前一日触及1月20日以来 新高。 美元小幅走高，使以美元计价的商品对海外买家来说更昂贵。 他预计随着生长季节的推进，价格会有所上涨。 "上行势头比下行风险的可能性更高。如果突破67美分/磅，就有可能升向68美分/磅，甚至更高。" 堪萨斯州大宗商品分析师SidLove表示，价格无法"直线上升或直线下降。会有进行盘整和来回波动的时 候"。 美国农业部(USDA)周四公布的出口销售报告显示，2月19日止当周，美棉出口销售合计净增28.29万 包。当前年度棉花出口销售净增25.32万包，较前周减少46%，较前四周均值减少12%。下一年度棉花出 口销售净增2.97万包。 汇市：美元指数上涨。股市：纽约股市三大股指上涨。油市：国际油价涨跌不一。 二、现货 26日CotlookA指数76.45美分/磅，涨60点。 ...

（来源：锦桥纺织网） 来源：锦桥纺织网 Brown表示："3月期棉即将进入交割期，所有抛售压力已消退。" ICE公布数据显示，截至2月19日，ICE可交割的2号期棉合约库存增至119457包，前一交易日为117075 包。 一、期货 2月20日(周五)，洲际交易所(ICE)棉花期货攀升，因美元小幅走低，且利好的出口销售报告提振投资者 信心。 交投最活跃的5月棉花期货合约上涨1.49美分或2.32%，结算价报65.63美分/磅。 乔治亚州KeithBrown公司首席棉花经纪人KeithBrown表示："美元今日略有走弱，出口销售创市场年度 新高。这些因素均支撑棉价。" 美元在震荡交投中走低，终结连续4天的涨势。此前美国最高法院裁定特朗普政府大规模关税政策违 法。 美元走软使以美元计价的棉花对海外买家更具价格吸引力。 该裁决可能缓解棉农的财务压力，从而支撑出口需求和棉价。 与此同时，美国农业部(USDA)周五公布的出口销售报告显示，2月12日止当周，当前年度美棉出口销售 净增46.63万包，创市场年度新高，较前周增加102%，较前四周均值增加70%。下一年度美棉出口销售 净增3.31万包。 汇市：美元指数下跌。股 ...

（来源：锦桥纺织网） 来源：锦桥纺织网 ICE公布数据显示，截至2月11日，ICE可交割的2号期棉合约库存为102232包，前一日为99096包。 汇市：美元指数上涨。股市：纽约股市三大股指显著上涨。油市：国际油价微涨。 二、现货 12日CotlookA指数73.55美分/磅，涨25点。 ICE交投最活跃的5月棉花期货合约上涨0.29美分或0.45%，结算价报64.33美分/磅。 美国农业部(USDA)周四公布的出口销售报告显示，2月5日止当周，当前年度美棉出口销售净增23.1万 包，较前周减少8%，较前四周均值减少23%。下一年度美棉出口销售净增5.09万包。 PriceFuturesGroup的副总裁JackScoville表示："最新公布的棉花出口销售数据表现还不错，这帮助支撑 棉价。" 在谈到短期展望时，堪萨斯州的大宗商品分析师SidLove表示："我认为情况会保持平稳，但我预计在作 物播种之前，会有短暂的支撑，之后我们将关注厄尔尼诺现象如何发展。" 美国气候预测中心(CPC)表示，2026年2-4月，拉尼娜现象转为厄尔尼诺南方涛动中性状态(ENSO- neutral)的概率为60%，且中性状态预计将 ...

Futures Market - On February 6, ICE cotton futures closed lower as market participants awaited the upcoming USDA supply and demand report for demand signals [1] - The most actively traded March cotton futures contract fell by 0.7 cents or 1.1%, settling at 61.06 cents per pound [1] - The March cotton contract has declined by 3.3% this week, primarily pressured by overall weakness in the commodity market and a strong dollar [2] Currency Market - The dollar index, which tracks the performance of the dollar against six currencies, fell by 0.34% on Friday but still rose by 0.5% for the week, potentially marking the largest weekly gain since early January [3] - The strengthening of the dollar was catalyzed by President Trump's nomination of Waller as Fed Chair, who is viewed as a hawkish figure not favoring significant rate cuts [3] - A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies [4] Commodity Market Sentiment - The overall commodity market remains weak, with Jim Nunn, a manager at a Tennessee cotton brokerage, stating that there are currently no positive factors in the market [5] - The Chicago Board of Trade soybean futures have risen for four consecutive days due to optimistic demand prospects [5] - Nunn indicated that this situation may lead farmers to plant more soybeans and fewer cotton crops, suggesting a trend where more farmers may abandon cotton planting in favor of soybeans next year [5] USDA Report Expectations - Investors are awaiting the USDA supply and demand report, which is expected to provide future demand forecasts for cotton [5] - The USDA's export sales report showed a net increase of 249,800 bales in U.S. cotton export sales for the week ending January 29, a 23% increase from the previous week but a 5% decrease from the four-week average [5] - Net export sales to China increased by 36,600 bales, while next year's net export sales were 114,900 bales [5] Spot Market - On February 6, the Cotlook A Index was reported at 72.80 cents per pound, down 40 points [8]

Group 1 - The cotton futures on the Intercontinental Exchange (ICE) closed lower on December 29, but remained close to the multi-week high reached the previous week, supported by short covering, a general rise in soft commodity markets, and increasing oil prices [1] - The ICE March cotton contract fell by 0.14 cents or 0.22%, settling at 64.35 cents per pound, after reaching its highest level since December 3 the previous Friday [1] - According to StoneX's risk management expert, there appears to be some short covering, but no specific factors are driving this rebound; it seems to be forming a new upward trend [1] Group 2 - As of December 16, speculators increased their net short positions in ICE cotton futures by 1,822 contracts to 60,573 contracts, indicating a cautiously optimistic sentiment [1] - International oil prices rose by over $1 on the same day, making cotton more attractive as a substitute for polyester fibers, which have become more expensive [1] - The overall soft commodity market saw small increases in cocoa, raw sugar, and coffee futures [2] Group 3 - The National Bureau of Statistics of China reported that the national cotton planting area for 2025 is projected to be 4,468.7 million mu, an increase of 2.113 million mu or 5.0% from the previous year; the yield is expected to be 148.6 kg/mu, up by 3.8 kg/mu or 2.6%; and the total production is forecasted at 6.641 million tons, an increase of 477,000 tons or 7.7% [2] - In the grain market, Chicago wheat prices fell on December 29 due to ample global wheat supply putting pressure on the market [3] - The Cotlook A Index on December 29 was reported at 74.50 cents per pound, an increase of 50 points [4]

Group 1: Futures Market - On December 12, ICE cotton futures declined due to a slight rebound in the dollar and weak export demand, with the March cotton contract settling at 63.83 cents per pound, down 0.14 cents or 0.22% [1] - The USDA reported a net increase of 187,600 bales in U.S. cotton export sales for the week ending November 13, a decrease of 36% from the previous week but a 10% increase compared to the four-week average, with net sales to China increasing by 5,700 tons [1] - The USDA's supply and demand report predicted a 1% increase in U.S. cotton production to 14.3 million bales, due to upward revisions in yield estimates from several states in the Southeast and Delta regions [1] Group 2: Inventory and Market Conditions - As of December 11, ICE deliverable stocks of the No. 2 cotton contract remained stable at 13,971 bales [2] - The Cotlook A Index was reported at 74.20 cents per pound on December 11, reflecting an increase of 25 points [3]

Group 1: Futures Market - On December 10, ICE cotton futures rose, supported by technical buying, with the most active March cotton futures contract increasing by 0.26 cents or 0.41%, settling at 64.12 cents per pound [1] - The USDA's December supply and demand report indicated a 1% increase in U.S. cotton production to 14.3 million bales, due to upward adjustments in production estimates for the southeastern U.S. and Delta regions [1] - Global cotton production for the 2025/26 season is estimated at 119.79 million bales, slightly down from the previous estimate of 120.08 million bales [1] Group 2: Market Conditions - The ICE deliverable 2 cotton contract inventory remained stable at 13,971 bales as of December 9 [3] - The Cotlook A Index on December 10 was reported at 73.95 cents per pound, an increase of 25 points [4] - The Federal Reserve's recent interest rate cut is expected to support consumer spending, which may boost demand for cotton and textile products [2]