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Chinese cotton linter prices have dropped over 1,000 yuan/mt in the past month amid panic after weak US payroll data, which raised recession fears and weakened the dollar. Cotton spot fell from 15,500 to 14,400 yuan/mt since mid-July.
Macroeconomic fears and supply pressure from the new crop are weighing on cotton and linter demand, with downstream buyers delaying purchases, a bearish signal for cottonseed-derived products.
chinatexnet.comAug 28, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
