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Upstream Raw Material Market Performance

2010/11/15 15:58:00 67

Upstream Raw Material Market Seed Cotton Market

Cotton spot and cotton this week

futures

Under the control of state policies, it quickly reversed the bull market and began to plunge sharply.

On the 7 day, the scenery of the takeover price of the Wei and lint rose 2000 yuan.

After the first exploratory reduction of 200 yuan on the 11 day, Wei Qiao continued to slide 500 yuan on the 12 th, and the direct price cut was 1000 yuan on the 13 and 14 days. By the end of November 14th, the purchase price of 3 grade lint fell to 28800 yuan, and the 4 grade lint purchase price to 28500 yuan.

The seed cotton market is also not allowed.

optimistic

The purchase price of seed cotton at the beginning of the week in Jingzhou, Hubei, was 3 yuan, while the purchase price of the seed cotton was 7.2 yuan, but the purchase price fell 1.5 yuan to 5.7 yuan on Friday.

China's cotton price index data also reflected this situation. As of November 12th, the 3 cotton prices were closed at 31281 yuan / ton, up 2390 yuan / ton, or 8.27%, up 120% from the same period last year.

Zheng cotton futures plunged sharply, and after Monday's trading, the weekend was due to policy regulation, the central bank raised the deposit reserve ratio, the high interest rate pressure caused by CPI, ICE raised the margin, and the new wind control measures of Zhengshang, and so on. Zhou Mozheng cotton futures ushered in a 2 day limit and ended in November 12th. The closing price of the 05 contract of Zheng cotton was 29670 yuan / ton, or 3605 yuan lower than the beginning of the week, or 10.83%.

According to the November monthly analysis of the US Department of agriculture (USDA), the total output of cotton in November was 25 million 93 thousand tons, a decrease of 311 thousand tons from the previous month. The global consumption volume was reduced by 859 thousand tons to 25 million 435 thousand tons; the end of 2010/11 global cotton ending inventory continued to decrease, estimated at 9 million 188 thousand tons, and the inventory consumption ratio was 36.12%, the lowest level since 1993/1994.

November report also estimates 2010/11

China

At the beginning of the year, there were 15 million 250 thousand packages, lower than the 18 million 250 thousand packages reported in October, and the output was about 30 million packs, lower than the 31 million 500 thousand package reported in October. The import volume was about 15 million packs, higher than the 13 million package reported in October, the domestic consumption 47 million package, lower than the 50 million package reported last month, the final inventory was 13 million 220 thousand packages, lower than the 14 million 720 thousand package reported last month.

As global cotton inventories fell to the lowest level in 15 years, the main cotton importers in China are not afraid of soaring cotton prices to replenish their stocks.

Because of the uncertainty of India's cotton export policy, many importers have switched to buy cotton.

In the first 3 months of this year, US cotton sales suddenly increased to the highest level in history, and the US cotton exports in the late period are expected to continue to be active. The total export volume is expected to reach 3 million 430 thousand tons this year, which is likely to lead to the end of the US cotton end inventory down to the lowest level since 1925.