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Zheng Cotton'S Mid Size Drop Is Not Always Changing.

2010/7/7 20:18:00 98

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Zheng cotton

16570,5.00,0.03% futures prices fell today, the main 1101 contract.

Fall

170 yuan, a decrease of 1.02%, a turnover of 27, an increase of 90 thousand compared with the previous day; in the past 1009, the contract was relatively strong, and the whole world fell by 55 yuan.

In the short term, Zheng cotton's 1101 contract has fallen below the 60 day average line support, but the rising trend of the 1009 contract and the 1105 contract in the far months remained intact. Therefore, it is necessary to further observe the overall turning of cotton futures prices.

The decline in cotton futures prices came first from the technical pressure of American cotton.

Historically, 80 cents has been an important resistance position for the ICE US cotton index for many years.

In June of this year, the US cotton attempt to break through this position successfully failed and showed a downward adjustment in technology.

The fundamental reason is that the planting area of American cotton has increased by 19% this year, and the weather is better.

As for the domestic market, the main 1101 contract bears a lot of pressure.

On the one hand, if the state throws up 600 thousand tons of information, if there is no, the current strategy of textile enterprises is to digest existing stock, and the enthusiasm of purchasing cotton at present price is not high.

According to the survey of China cotton information network, the average cotton inventory in the textile enterprises surveyed in June decreased from 41.21 days last month to 32.8 days.

Secondly, after entering 7, 8 and September, textile enterprises ushered in the traditional off-season, and the demand intensity was weaker than before.

However, Zhengzhou cotton

futures

There is little room for prices to fall.

The main reason is that domestic spot prices are strong.

From May to now, China's cotton price index has risen almost daily, with a steady upward trend and no sign of change.

Today, the price of cotton grade 3 cotton in China is reported to be 18369 yuan per ton, up 2 yuan from the previous day, and it continued to write the highest record in nearly ten years.

According to the quality of the 3 grade lint, the quotations are generally between 18000 yuan and 18500 yuan, and some textile enterprises have reached 19000 yuan.

Because of the existence of a large number of arbitrage traders, it is difficult for cotton futures prices to fall sharply in a short time.

On the other hand, downstream yarn prices remain high, cotton yarn sales are smooth, and enterprises do not have large inventory pressure, that is to say, as long as the production of the enterprise must purchase cotton, the current price is affordable.

Under such circumstances, the Zhengzhou cotton futures index has a higher probability of high volatility in the range of 17000 yuan to 18000 yuan.

Trading strategy, because the long-term upward trend has not changed, early speculation is more or less continue to hold.

1105 the contract has now fallen below 17000 yuan, and investors can establish more than one line over the long term to hold the Spring Festival until 2011.