Interest Rate Policy Postponed Zheng Cotton Rebounded Sharply

　　 In December 13th, Zhengzhou cotton futures opened higher, and then went higher. Main 1109 contract Shrinkage Add the warehouse, close the line.

On Monday, December 13th, the Zhengzhou commodity exchange (CZCE) cotton futures 1109 contract opened at 26590 yuan / ton, closing at 27570 yuan / ton, up 990 yuan / ton compared with the 10 day settlement price, 1519192 hands and 227698 positions.

Intercontinental Exchange (ICE) cotton futures closed higher on the 10 th, and investors bought the right amount of trading. analyst The government crop report highlights the tight supply of cotton market. ICE March cotton futures contract closed up 1.02 cents, to close at 1.3697 U.S. dollars / pound, the trading range of 1.353 to 1.4095 U.S. dollars per pound. Cotton rose 3.5% this week.

US Department of agriculture ( USDA In December, the supply and demand report showed that the US cotton yield per unit in 2010/11 was estimated at 814 packages per acre and 821 packages per acre in November. The output is estimated at 18 million 270 thousand bales, estimated at 18 million 420 thousand packages in November. Inventories were estimated at 1 million 900 thousand packages at the end of the year and 2 million 200 thousand packages in November. The export is estimated at 15 million 750 thousand bales.

USDA's December supply and demand report shows that China's cotton production in 2010/11 is estimated at 30 million bales. At the end of the year, the inventory was estimated at 13 million 220 thousand bales. Imports are estimated at 15 million bales.

　　 At present, the market is still cautious. "Boots" have not yet landed, and there is no basis for blindly doing more or shorting. Analyst Zhai Naigang believes that although the current policy pressure is still completely eliminated, but the market is tightening in the global supply and demand, short term cotton prices still have the trend of warming along the interval.