Monthly Report of Cotton Market in June

Since june 2022, the global inflation reached the highest point again. And the global economy might face the stagflation since 1970s. The price of commodities went down. 

The inflation index CPI of USA reached 8.7% in may, which was the highest within 41 years. And the Fed rose rates by 75 points, which was the largest within 28 years. Panic selling showed in stock market and commodity market. The future price of international cotton slumped. Up to june 30, 2022, the settlement price of ICE cotton futures was usd 98.84 cents/pound, which was 19.28% less than the end of may. 

According to the data from US Department of Commerce, the clothes stock selling was at the bottom in june 2021 and rose to 2.42% in 10 months from july 2021 to april 2022. And Michigan Consumer Confidence Index started to drop since april 2021 and reached the bottom historically in june 2022.