MEIKO Futures: Foreign Cotton Rose Slightly &Nbsp; Focus On Spot Market.

　　 Outside trend, overnight ICE cotton Low open and down, but subject to Spot market The demand is active, business buying and entering the market and promoting the ICE futures contract in March slightly increased. Cotton prices fell sharply for three consecutive trading days, which is the restoration of overheating in the previous market. When to stabilize, it depends on the market situation of the spot market.

　　 On the news side, according to the statistics of several large international cotton traders in the industry, the number of cotton exports to Uzbekistan in the end of November this year is not large, mainly in the United States cotton, cotton and cotton in Uzbekistan, while the port volume is relatively large at the end of December. Besides the United States and cotton, there are still a certain number of cotton. In 10 and November, there were more domestic cotton textile enterprises for inquiry and purchase. Because it is difficult to grasp the policy of India's cotton exports, large international cotton traders generally do not operate much, but small and medium-sized enterprises are more interested. As a result, some cotton processing and trading enterprises in India may take the "false contract" and "false number" and other abnormal means to occupy the cotton export application index. International cotton trader As a result of late work, joint India domestic ginning factory applied to the export index is very limited.

In the international market, the quotation of China's main port of imported cotton continued to fall sharply yesterday. Besides the 1.5 cent drop in Central Asian cotton, the quotations of other varieties of cotton were generally down 4-5 cents, and Australia cotton fell by 7 cents. At present, the inertia of domestic cotton market has not stopped, and the impact of Zheng cotton on international futures will continue. Although China's demand for foreign cotton is still strong, with the fall in prices, the phenomenon of breach of contract by Chinese importers has begun to increase. If market prices continue to slide, it will have a serious negative impact on the psychology of all parties.

Domestic market, recently, affected by factors such as the central bank raising the deposit reserve ratio, commodity prices, including Zheng cotton, have been falling. At present, the price of the cotton electronic disk has fallen sharply, the seed cotton purchase market has been severely affected, the price has plummeted, and the spot market has begun to show signs of loosening. A large textile enterprise in Shandong has continuously lowered the purchase price of lint, and some areas have dropped by more than 1 yuan / Jin. Many cotton growers and Cotton Traders actively sell, and the average daily purchasing amount of acquisition companies has increased. As the supply of resources increases gradually, the price of spot market will continue to adjust downward in the short term. The cotton trucks on the door-to-door sale began to grow. All parties need to pay close attention to whether the signs of loosening in some areas can become a universal phenomenon.

Spot quotes, November 15th, the international cotton index (SM) 168.66, down 451 points, the general trade port delivery price of 28699 yuan / ton (calculated by sliding tax, the exchange rate is calculated by the Bank of China's middle price), the international cotton index (M) 167.47, fell 458 points, the general trade port delivery price 28498 yuan / ton. The national cotton price A index was 31775 yuan / ton, up 399 yuan; the B index was 31235 yuan, up 448 yuan.

Market analysis, in the short term, the capital market sentiment will play a leading role in the market trend, and the spot market is also expected to be strongly supported by the cost. Whether the spot price can maintain relative stability will play a crucial role in docking the trend of Zheng cotton.

　　 Operation recommendations, a small number of long-term holders, and those who wait.