Jinsui Futures: Cotton Morning Review 0706

cotton

In its monthly report, the Advisory Committee said that the global cotton production in 2010/11 will increase by 14% to 25 million tons.

Consumption will also increase by 2% to 24 million 900 thousand tons.

But due to a decline in inventories, cotton prices in 2010/11 are expected to rise by 12% to 87 cents per pound.

Stock

Data show that the whole industry is in the passive replenishment stage, and the optional consumer goods industry has gradually entered the stage of independent inventory.

In recent two years, global weather changes are frequent and natural disasters happen frequently. China's cotton growing period is low temperature and rainy, and the main producing area of Xinjiang is experiencing rainstorm and flood again.

Zheng cotton

1101 continue to maintain high volatility, the pattern of near strong, far and weak has not changed, the short-term direction of the average line winding is unknown, and over 17000 constitute a great pressure on the price of the period.

(operation suggestion) 16500-17000 interval oscillation, band operation.