摘要
Recent price movement The global cotton market was volatile over the past month,with values for most benchmark prices moving strongly higher in the second half of May.Values for the July NY futures contract surged from levels near 84 cents/lb a month ago to those near 95 cents/lb recently(+13%).Values for the December NY futures contract rose more sharply than those for July(from 80 cents/lb in early May to 93 cents/lb,or+19%),narrowing the discount for 2018/19 prices(December futures)relative to 2017/18 prices(July futures).The A Index climbed alongside NY futures.One month ago,values for the A Index were near 94 cents/lb.The latest values have been over 100 cents/lb,marking the first time since March 2012 that the A Index has been over a dollar.
