Zheng Cotton Hit A Record High Of &Nbsp; Investors Reduced Their Positions.

First, both inside and outside cotton will reach a new high level.

1, good export promotion.

Although the US Department of agriculture's monthly supply and demand report did not bring more benefits to the market this week, the popularity of the US cotton shipping export has brought many reasons for speculators and commodity funds.

The US cotton main contract hit a record high in March. It once touched 192.48 cents and was only 200 feet away.

By the end of February 11th, US electronics rose 22.74 cents or 13.55% this week.

2, Zheng cotton ahead of schedule, high risk increased

In the United States cotton and the market on the textile tradition after the festival

Two, tight supply and demand is difficult to alleviate, and international cotton prices are hard to fall.

1. Shipment of US cotton increased.

According to the US Department of agriculture (USDA), 1.28-2.3 signed a US net signing of 25197 tons of land cotton this week, 1.5 times higher than the previous week, 23% less than the average four weeks ago, and 108817 tons of shipments, the highest in the current year, 12% higher than the previous week, 43% more than the average around four weeks.

The net signing this year is 2223 tons of Pima cotton, 16% less than the previous week, 25% less than the average around four weeks, and 3425 tons shipped.

The net signed next year is 43930 tons of upland cotton and 2699 tons of Pima cotton.

2, global supply and demand remain tight, and China's data remain unchanged.

According to the projections issued by the US Department of agriculture (USDA) in February 9th, the world's initial inventory of 9 million 579 thousand tons this year increased by 33 thousand tons compared with last month's forecast. Output of cotton (33390, -740.00, -2.17%) was 25 million 93 thousand tons, reduced by 45 thousand tons; global consumption 25 million 376 thousand tons, 6 thousand tons; import and export volume 8 million 300 thousand tons, reduced by 50 thousand tons; end of the stock 9 million 321 thousand tons, reduction of 5 thousand tons.

China's data have yet to be adjusted in this forecast.

Among them, output is 6 million 532 thousand tons, consumption is 10 million 233 thousand tons, import is 3 million 266 thousand tons, and ending inventory is 2 million 879 thousand tons.

Three, high cotton prices or curb demand, downstream textile enterprises continue to wait and see

1, cotton prices push up costs, overseas orders pfer

At present, excessive cotton prices have already suppressed demand. When domestic manufacturers are using substitutes, some overseas textile buyers have already moved to Southeast Asia and other countries.

If a large number of overseas orders are lost due to price reasons in spring, it will affect the smooth operation of China's textile industry.

2, sales have not improved, and textile enterprises are wait-and-see.

The situation of textile sales after the holiday is not warm. The price of yarn has steadily increased. Due to the impact of holidays and sales slump, the downstream textile enterprises are not operating at a high rate.

The recent surge in cotton futures prices has changed the mindset of many cotton traders and is more optimistic about the bullish outlook.

Part of the substantial increase in quotations, but due to the current inventory of textile enterprises are more adequate, and worried that the cotton prices will fall sharply in the future, wait-and-see psychology is strong, which also led to the current market cotton light trading, cotton prices without market.

The real start of the downstream cotton market needs to wait for the overall sales of textiles to improve.

Four, cotton uplink pressure appears, long reduction of warehouse is wonderful.

From the technical point of view, the average line of Zheng cotton has been arranged in a long way, and the trend of continuing upward has not changed.

Although 3 successive lines were blocked, there were signs of obstruction near the 34500 point, but the bottom continued to rise along the 5 day EMA.

Under the strong impetus of the US cotton, Zheng cotton is more likely to go up.

And the past 20 members hold the position, there is no sign of the main concentration of departure, this also indicates that the round of the market has not finished.

At the same time, as spot prices did not follow the sharp rise in futures prices, the possibility of the state's policy on cotton suppression is not large enough, which will also help to increase the trend of Zheng cotton to a certain extent.

Overall, as the National Bureau of statistics will announce the economic data in January and increase the uncertainty of the market next week, it is suggested that early profit margins can be reduced slightly, and funds and risks will be well controlled.