New Cotton Listing Postponed Promotion Of Throwing Storage

Since entering the July, the cotton market has encountered an unprecedented light situation. On the one hand, the hoarding merchants have higher quotations, the market quotation is three yuan cotton 18500 yuan / ton or even more; on the other hand, the preparatory funds for textile enterprises wait for the 600 thousand tons of throwing cotton reserves in the country, the willingness to purchase and the bearing capacity of high cotton prices have all weakened, and there is a situation of no market price in the market.

Adjustment of market weakness

Since July (7.1-7.12), the main CF1101 contract of zhengmian has fallen continuously, breaking down 16500 yuan / ton important support position, continuing to explore and seek new support, the K-line is suppressed by the EMA, and the overall performance of the disk is weak. In recent years, if it is supported by the 16295 line, the main force of Zheng cotton will probably be able to test the 16000 integer pass.

The main contract CF1101 of Zheng cotton futures has been maintaining weak adjustment since July 1st. The monthly line is on the negative line, and the daily line is suppressed by the EMA. There is no rush to rush, and even the key supporting position of the key callbacks and 16500 yuan / ton is broken, and the weak atmosphere of the entire disk is adjusted vigorously.

Since the issuance of quasi tax quotas and the expectation of dumping and storage control, although the spot prices are still high, futures, matching electronic plates and other markets have declined to varying degrees. Judging from the current survey, the new cotton market will be postponed for about 10~15 days this year. If there is a supply gap, the country will throw cotton reserves to control cotton prices.

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USDA to increase cotton production next year

Recently, the newly released USDA monthly report on the 2010/2011 global cotton production is expected to increase again than last month.

Specific expectations are as follows:

Output: expected global output of 25 million 260 thousand tons, an increase of 369 thousand tons from last month.

China's output is 7 million 185 thousand tons, and India's 5 million 443 thousand tons have not been adjusted. The US output is 3 million 984 thousand tons, increased by 348 thousand tons, and Pakistan's 2 million 221 thousand tons, which has been reduced by 65 thousand tons.

Consumption: global consumption is expected to increase by 26 million 62 thousand tonnes and 45 thousand tons.

The consumption volume of China and India is expected to be 1066.9 and 4 million 442 thousand tons, respectively, while Pakistan's 2 million 526 thousand tons will be reduced by 21 thousand tons.

Volume of import and export trade: the total volume of Global trade is about 8 million 60 thousand tons.

Among them, our country

Final inventory: estimated 10 million 867 thousand tons at the end of the world, up 70 thousand tons from last month.

The US end inventory was 762 thousand tons, an increase of 152 thousand tons from the previous month.

Pakistan has increased 130 thousand tons for 738 thousand tons.

Perhaps the delay in the listing of new cotton may be the reason for the dumping.

According to the China Cotton Association, the state has made preparations for importing and throwing reserves in order to cope with the possible delay in the listing of new cotton this year.

If the market fluctuates violently, the dumping will be issued as scheduled.

In view of the uncertain economic environment at home and abroad, with the decline of textile mills' bearing capacity for high cotton prices, and the appreciation of the RMB against the US dollar, or the future demand of cotton will decline, this will lead to another medium term adjustment of Zheng cotton.