Zheng Cotton Should Be Held High.

On Thursday, April 3rd, the New York stock market continued to shake. Today, Zheng cotton's main contract CF907 opened slightly higher, and the early trading was adjusted under the pressure of short-term profit taking. It narrowed up before noon, and fell at noon.

The volume decreased slightly.

C905 contract day 2060 hand trading, 520 days to reduce positions, the final position of 14226 hand; CF907 contract day turnover of 8498 hands, 878 days to reduce warehouse positions, the end of the 27858 hand positions; CF909 contract day 1572 hands, Japanese daily increase 38 hand, the final holding of 5764 hands.

Related market situation: on Thursday, NYBOT cotton futures were depressed by trade sell-off and close to the same level.

Today, CNCE electronic matchmaking deal has reached 10760 tons, matching continues to continue the shock market, the paction volume is huge, the order quantity reduces again.

Fundamentals: due to the reduction of seed cotton resources, the market is mostly mixed grade cotton, and the 3 grade seed cotton has been very few, so the market purchase quantity has reduced, many enterprises stop collecting, and seed cotton price cotton support is stable.

Judging from the situation of cotton rising today, the 329 level is the biggest increase, up 87 yuan compared with yesterday, and the other two and four grade cotton increase is also bigger.

Recently, Xinjiang cotton's quotation has increased and the increase in the volume of the Xinjiang cotton company has increased by 300-500 yuan / ton.

In the face of the rise of cotton, textile enterprises are also very helpless. The main reason is that the inventory of textile mills has been kept relatively low. Now the price of cotton is rising steadily, which worries the textile enterprises.

Therefore, we can only raise the price to buy cotton.

However, there are also enterprises that reflect price adjustment based on the payment method and account period.

On the 2 day, China's cotton price index (CCIndex328) was 11806 yuan / ton, up 85 yuan, the average price of 527 cotton to plant was 10426 yuan / ton, and the reference price of 328 cotton purchase in China (36% linen, 10% moisture) was 2.47 yuan, and the cost was 11206 yuan.

The US Department of Agriculture reports that 3.20-3.26 has signed a net US contract for the export of 91444 tons of upland cotton this week, an increase of 26% over the previous week, an increase of 52% over the past four weeks, and a shipment of 67563 tons, the highest in the current year, an increase of 45% over the previous week, an increase of 40% over the average of nearly four weeks.

When Zhou net signed the export, 1429 tons of Pima cotton and 476 tons of shipment were shipped this year.

When Zhou net signed the export 09/10 5194 tons of upland cotton.

Last week, China signed a net import of 12973 tons of Upland Cotton in the United States this year, an increase of 7% over the previous week, and 25084 tons of Upland Cotton in the current year, 93% higher than the previous week.

Technical side analysis: on Thursday, the US cotton index and the May contract fell sharply, and the market price continued to move around the 60 day average moving line. The technology can be seen as the consolidation of the strong market after the breakthrough, and the central line maintained a favorable pattern. In May, the low point of the first day of the test was stabilized after the 60 minutes of the contract's sharp decline, and the short line may form an interval box pattern. The market outlook is concerned about the technical role of the 45.8 bit first line in the short term support position.

Today, Zheng cotton CF907 contract opened up after the adjustment, and the Japanese line rose and rose along the 5 day moving average, and maintained a good rising trend. The 60 minute trading center continued to move upward, and the 10 average line formed an effective support for the period price. However, after the end of the day, the RSI broke into a slight deviation. The short line still has the possibility of adjustment. It is expected that the slow down inflation may be the main keynote of the recent market; with weekly analysis, this week, the CF905 and 907 contracts both closed the middle line, and the week before the week had swallowed up the lead point and broke through the 30 week EMA, and RSI14 broke through the 50 line.

Operation suggestion: more single continue

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Editor in chief: Wang Xiaonan