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Strong Cotton Can Not Save The Declining &Nbsp; Zheng Cotton Can Not Afford To Fight.

2010/11/20 14:55:00 60

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Overnight

American cotton

Hit the daily limit, driven by this good news, Zheng cotton opened sharply in early trading today, but the final cause.

Fundamentals

Weak overall opening price at the end of the way all the way down, the weak obvious, but led to ICE3 month cotton electronic disk fell sharply.

At noon, the 1105 contract of zhengmian was closed at 26750 yuan / ton, down 205 yuan / ton, or 0.76%, trading volume of nearly 1 million 120 thousand hands, 20428 additional hands; 1109 contracts closed at 26665 yuan / ton, down 335 yuan / ton, or 1.24%, trading volume close to 822 thousand hand, adding the second hand.

As of 11:35, the ICE cotton 03 monthly report closed at $1.2371, down 4.21%.

Spot market, in November 19th, the national cotton electronic matching trading market volume of 26840 tons, the order volume of 84360 tons, in recent months, the MA1011 contract closed at 27620 yuan / ton, up 467 yuan, turnover 1260 tons; the main MA1103 contract closed at 26750 yuan, up 163 yuan, turnover 8460 tons.

In November 19, 2010, China's cotton price index (CC Index328 level) was 28646 yuan / ton, down 206 yuan / ton compared with yesterday, CC Index527 level was 26799 yuan / ton, fell 129 yuan / ton; CC Index229 level was 29343 yuan / ton, down 279 yuan / ton.

According to the news of New York on November 18th,

ICE cotton futures

On Thursday, it reached a high limit, reaching a limit for the first time in three days.

The market believes that China, the biggest consumer country, may need to import large quantities of cotton to boost cotton prices.

Cotton experts say Ireland is the cause of the rise in cotton prices, which is a rise in the macro level.

The ICE cotton contract rose 5 cents in March, reaching a limit of 1.2915 dollars per pound and a low of $1.2338.

On the news side, the China cotton reserve management company released a report on Thursday that the cotton quality and output were all adversely affected by the disaster of this year's cotton sowing period, such as low temperature and continuous heavy rainfall during the boll opening period.

The cotton planting area of this year is 75 million 682 thousand mu, 1.1% less than that of last year. The output per unit area is 84 kg / mu, 4.4%, the total output is 6 million 360 thousand tons, and the reduction is 5.5%.

The statistics are preliminary results. The report calls for a clear understanding of cotton production and supply and demand pattern in all aspects of cotton industry, to overcome speculative psychology, to operate prudently and to control risks.

On the disk, Zheng cotton index has dropped by nearly 20% from 33000 of the peak to 27000 of yesterday, and the demand for small rebounding on the disk, coupled with the recent start of the Irish crisis, has led to the stop of the US dollar index. The overnight commodities have already eased off from the earlier sharp pullback, and the market panic has been released. However, the possibility of a rebound to the previous high point is very small, because the fundamentals of cotton can no longer support the substantial rise in prices similar to those in the early stage. The domestic cotton will soon be on a large scale and the imported cotton will gradually come to Hong Kong, and the domestic cotton supply will gradually ease in the future.

Operation, in recent trading days, Zheng cotton day turbulence amplitude, short and high game intensified, volume volume is obvious.

The Bulls still did not give up hope for the upside, and short-term cotton demand rebounded slightly.

However, the overall thinking remains on the empty side, and the empty side can make use of the rebound to set up empty positions at relatively high points.

We must strictly adopt the principle of "trial order - overweight", and do not hold too much weight when there is no floating profit.