USDA Data Biased Toward Good &Nbsp; Zhengmian Rebound

Summary of the report:

1, December 10th ICE

2, USDA2010/11 cotton inventory estimate at the end of the year is 1 million 900 thousand packages, highlights the tight supply, but

3, the people's Bank of China decided that from December 20, 2010, the deposit reserve ratio of deposit financial institutions should be raised by 0.5 percentage points.

International:

According to New York's December 10th news, ICE cotton futures closed higher on Friday, as the report on crop supply and demand released by the US Department of agriculture highlights the tight supply of cotton, and investors buy cotton futures in moderate trading.

ICE cotton contract in March rose 1.02 cents, 1.3697 U.S. dollars per pound, the intraday trading range of 1.353-1.4095 U.S. dollars.

The contract rose 3.5% this week.

The total turnover is about 27336 hands, which is 35361 lower than the 30 day average value of about 25%.

Thursday's ICE cotton futures volume touched 15036 hands in three months low.

Domestic stock:

Today, lint quotes continue to maintain stability, but the turnover is not ideal. Some ginning plants reflect that textile mills want to buy the pressure according to the shock of the electronic disk, but the price of seed cotton purchasing is increasing again and again. The quality of the seed cotton purchased in some areas is not ideal, and the water content is still high. The news of the electronic disk has led to great fluctuations in the market, and the risk of the cotton ginning factory is higher. The cotton market seems to be somewhat weak.

Another central economic worker today

As a meeting, tomorrow's macroeconomic statistics will be released by the Bureau of statistics tomorrow. Most people in the industry think that the CPI will increase by more than 5%, and the domestic inflation pressure will be greater. Next year, whether the country will continue to maintain a loose monetary policy is worth paying attention to. It is worth noting that in November,

Today, China's cotton price index (CCIndex328) is 26803 yuan / ton, up 34 yuan, and the average price of 527 cotton to plant is 25027 yuan / ton, up 9 yuan.

Domestic futures:

On Thursday, December 10th, the New York Stock Exchange rose to a daily limit, affecting the opening of the CF1109 contract of Zheng cotton today, and the concussion and decline in the short term of the second half of the day, and the low turnover of the intraday market was magnified.

Opening up the star of the Yang line, the volume of trading has shrunk in recent months and the position has declined.

CF1105 contracts were traded on 93290 hands per day, with 6576 hands reduced and 83290 held at the end of the day.

The CF1109 contract concluded 1679794 hands on the day, 22684 on the day, and 213440 at the end.

Operation suggestion:

Recently, the domestic cotton market has gradually improved, and spot prices have been climbing slowly. The enthusiasm of textile enterprises has been slightly improved, the market turnover has improved, cotton processing enterprises actively buy seed cotton, but cotton farmers are reluctant to sell their emotions.

However, the downstream is not optimistic. At present, the stock of cotton yarn in textile enterprises is constantly increasing, the pressure of production and marketing is great, the price of grey cloth has not stopped yet, and the order of enterprises is insufficient, and the shipping is still mainly based on price reduction.

On the operation, the data are much more favorable, and the early stage of the game is limited.