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Cotton Prices Fell And Then Returned To The Limit.

2011/3/9 17:12:00 63

Import Cotton American Cotton West African Cotton

The overnight market was influenced by the trend of Zheng cotton yesterday.

ICE cotton

(31095, -645.00, -2.03%) futures opened shortly after hitting the limit. Then, although there was a slight rebound, the price dropped and then returned to the limit.

At present, speculative buying power has obviously weakened, and the impact of high cotton prices on spot demand is gradually emerging.

In addition, the "Twilight star" formed on the technical graph shows that cotton prices will drop further.

On the news side, according to the latest data from India Cotton Corp, as of February 27th, the total volume of new flower listing in India this year was 3 million 893 thousand tons, an increase of only 3.9% over the same period.

Recently, the cotton advisory board of India (CAB) has reduced its cotton production forecast to 5 million 304 thousand tons this year.

At present, the FOB price of India cotton has risen to a high of 173 cents / pound, but it remains the lowest in the world.

In addition, due to the ceiling of India's cotton yarn exports this year, the local textile mills are looking forward to the export quota for the new fiscal year.

In the international market, the quotation of China's main port of imported cotton continued to rise yesterday, while US cotton and West African cotton continued to rise 1.5 cents.

As prices continue to rise, downstream market demand is acceptable, but

Gauze

The price is not up enough, and the profit space is constantly compressed. Therefore, the procurement of textile enterprises is still very cautious. The inquiry is mainly aimed at the new flower in 2011, and there is no intention of large-scale purchase in the near future. The spot and recent quotations have become a castle in the air.

Domestic market, domestic cotton spot prices continue to rise, the international cotton prices fluctuate, is still significantly higher than the domestic market.

Textile enterprises yarn stock pressure is greater, some enterprises are affected by financial pressure, sales increase after a small price reduction.

With the increase of the futures market, the cotton enterprises are also divided, but the mentality of selling high grade cotton is still strong. The cotton enterprises which have a large portion of cotton hoarding pressure or the market outlook is shaken is more active in selling lint.

Spot quotes, March 8th, USA

C/A cotton

The price quoted is 250.84 (cents / pound, the same below). The general port trade delivery price is 42010 yuan / ton (calculated according to the sliding tax, the same below).

Australia cotton quotation is 247.60, discount general port trade port delivery price 41470 yuan / ton.

Uzbekistan cotton quotation is 262.35, discount RMB general port trade delivery price 43886 tons.

The quotation for West African cotton is 251.69, and the general port trade delivery price is 42152 yuan / ton.

The national cotton price A index was 32121 yuan / ton, up 143 yuan; the B index was 31169 yuan, up 119 yuan.

Market analysis shows that the appreciation of the renminbi weakens the competitiveness of textile exports, and the high cotton prices inhibit consumption.

Technically, overnight, the United States cotton to stop reporting, adjustment is inevitable.

Yesterday, Zheng cotton 09 contract fell below the support of the 32000 front-line, is expected to continue to fall to the 30000 line, and pay close attention to whether it can get support near the 60 day moving average.

Operational recommendations, yesterday entered the field empty single holding, concerned about the support of the 60 day moving average, if effective, stop profits to protect profits.