Recent Domestic Cotton Market Announcement
October 23rd
Today, China's cotton price index (CCIndex328) is 12135 yuan / ton, down 28, and the average price of 527 cotton to plant is 11518 yuan / ton, or 77. Yesterday, the purchase and storage stipulated that the price was 12600 and increased the number of storage and purchase. Therefore, more than 10 minutes after the purchase and storage started, the total amount of storage and withdrawal was completed. According to the two days' storage and storage quantity, the planned storage and storage of 220 thousand tons will be completed by 170 thousand tons today. Today, cotton spot prices continue to go down, buying and selling are not flourishing, prices are low, and there is no market price.
The effect of purchasing and storing is still appearing. The market does not respond to this news very much. In today's market, there is a big fluctuation in the trading volume. After closing, trading volume has increased. Seed cotton purchase price has always been the status of hovering, some areas in the past two days, a small increase, but still the following fall, most of today's seed cotton purchase reference price 328 level 2.53 yuan / Jin, the purchase price is also around this price hovering.
Information workers in some areas have shown that in the face of low price cotton farmers still do not sell, some farmers' enthusiasm for planting cotton has been reduced, and the idea of replanting cash crops has been reduced. Now, Hunan, Jiangsu and other places still have not started the acquisition of cotton enterprises, Xinjiang's acquisition of the mainland does not seem to be a big reflection. Recently, the state is also collecting soybeans and rapeseed, so the price of cottonseed oil has been more stable recently.
Textile enterprises are not optimistic. Most enterprises still adopt the attitude of buying and buying, and the start-up is also in a basic state of maintenance. A group leader in Jiangsu said that considering the global financial turmoil, the consumption of textiles and clothing in Europe and the United States is expected to be further reduced. "The situation in the next half year is probably the worst. We are adjusting the yarn proportion to minimize the amount of cotton used to reduce costs." He said the company's cotton inventories have dropped sharply, and the current stock can support less than a month's production. In the past, the company usually stockpiles cotton for about 3 months. Small businesses have lower cotton reserves, almost all of them.
In addition, the company's output this year is down 15% compared with last year, and the decline in US and EU orders is expected to be around 30%. In Shandong and other places, textile enterprises reduce production 1/3 is normal. The volume of cotton by-products paction is sliding down in a row, and the market price also shows a steady and falling trend due to lack of support. In October 22nd, domestic cottonseed stopped its rebound and dropped slightly.
It is reported that the price of lint sales in Shaanxi, Henan, Anhui, Hubei and Shandong continued to drop in the spot market today, resulting in a low enthusiasm for purchasing cotton enterprises. The prospect of cotton planting is not optimistic, and the purchase price of seed cotton in each cotton area is between 2.55-2.65 yuan / Jin.
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