ICE Cotton Fell &Nbsp; After The Holiday, Zheng Cotton Is Expected To Call Back.

　 International market:

Thursday (9.23) ICE Cotton futures fell on the Intercontinental Exchange. It was reported that the plan did not completely prohibit cotton exports. After that, it demanded that the export time of cotton be postponed for two weeks. The most active December 2010 contract opened at 99.62 cents, intraday shock interval 99.71-96.82 cents, closing price of 97.17 cents, down -2.45 cents, turnover 16732 hands, the last day settlement price 99.62 cents, empty disk 146090 hands.

In September 23rd, the Cotlook cotton Outlook Index fell, and the Far East A index (10-11) fell 100 points, to 110.80 cents / pound.

US Department of Agriculture reports, September 10, 2010 -16, Upland cotton Net sales of 505100 packs, 11% less than last week, but increased by 46% compared with the average weekly sales volume. The export of 112900 tons of upland cotton increased by 24% compared with last week, but the average export volume decreased by 39% compared with that of last week. The United States Pima cotton net sales of 16300 packs, 10% less than last week, but the average four weeks. Sales volumes An increase of 22%. Pima cotton exports 300 bales.

Domestic market:

On the 21 day of September, after the expansion of Zhengyang cotton, the price reduction in January significantly reduced 6% of the daily price. The cumulative two days rose by more than 2000 yuan. The new flower approached 22 thousand in November. The market volume reached a record again. The position was still at a high level, and the risk accumulation could be adjusted at any time.

As of September 21st, the CC Index 328 cotton index rose to 19816 yuan / ton, up 371 yuan / ton compared with September 20th, rising 10% over the beginning of September.

In September 21st, the number of cotton reserves was 20009 tons, and the weighted average transaction price was 22369 yuan / ton, which was 786 yuan higher than that of the previous day. The 328 class turnover price was 22809 yuan / ton (net weight), up 636 yuan from the previous day.

Fundamentals:

The US stock market closed down on Thursday. Poor economic data from Europe and the United States make investors worry again about the prospects for global economic growth.

It is reported that the plan did not completely prohibit cotton exports, after which it demanded a two week delay in the export of cotton.

The US cotton export contract is in good condition. The US Department of Agriculture reported that on September 10, 2010 -16, the net sales of 505100 cotton bags were 11% less than that of last week, but increased by 46% compared with the average weekly sales volume.

In August of this year, the export of cotton was still not restored, and cotton exports ceased completely from June this year.

According to the report of foreign power in September 20th, at present, the market is very concerned about the weather condition during the period of seed cotton planting, and the precipitation in the cotton production area is insufficient, so the cotton planting has to be postponed.

The US Department of agriculture's September 2010 cotton outlook report shows that the world end of cotton inventory in 2010/11 is expected to be only 45 million 400 thousand packs, a slight decrease from last month's forecast, the lowest level since the 44 million 600 thousand package in 1996/97; the world's cotton output in 2010/11 is expected to be 117 million packs, an increase of 16% over the same period last year; the world's cotton planting area in 2010/11 is expected to reach 32 million 900 thousand acres, an increase of 9% over the same period last year; the world's cotton consumption in 2010/11 is expected to be 120 million 500 thousand packages, an increase of 3% over the same period last year. {page_break}

Since September, cotton prices have surged with the increase in cotton prices and the demand for cotton yarn in the lower reaches, resulting in a tight supply. In September 21st, the mainstream price of combed C32S pure cotton yarn rose to around 28000 yuan / ton, a higher price of 29000 yuan / ton, and 1800 yuan / ton in the half month, or 7%.

Market trend analysis: {page_break}

This week cotton rose like a rainbow, and domestic and foreign cotton futures continued to go on and on, and spot prices of cotton also climbed. The delayed demand for new cotton and the strong demand of world cotton have intensified the supply and demand situation of global cotton. The weather problem still plagued the harvest of cotton in the United States and China. Early Zhou may delay cotton exports directly leading to the cotton trading. At the weekend, it was also reported that the plan did not completely prohibit cotton exports, and ICE cotton fell at a high level.

Wang Danna, an analyst at cottonnet.toocle.com, thinks that the current situation of spot inflation is still continuing. In the short term, the upward trend of the market is still maintained, but cotton prices are too large and the growth rate is too fast. It is difficult to transmit to the downstream and bring high risks to enterprises. The rise in cotton prices is unexpected, causing some enterprises to panic, buying up, not buying or falling, boosting prices. Although the market expects cotton demand will remain strong in the late period, the short-term risk accumulation will be affected by the fall of ICE cotton.