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The Plate Fell Below 30 Thousand &Nbsp; Cotton Or Oscillating Bottoms.

2011/2/26 16:04:00 43

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Following Thursday's plunge of 4.63%, Zheng cotton went down and walked high yesterday, but the main 1109 contract dropped below 30 thousand yuan mark, or faced with the bottom of the market.

All fell sharply on the first 4 days of the week.

On the first 4 trading days of this week, Zheng cotton was reported down sharply, until yesterday.

But overnight

American cotton

The drag on the limit, yesterday, Zheng cotton opened low, the 30 thousand yuan pass again lost.

This week, Zheng cotton fell sharply, which was greatly influenced by external factors.

The turmoil in the political situation in North Africa made the futures market weak, with the obvious increase in the beginning of Zheng cotton, and the rational callback was inevitable.

Some analysts believe that, if there is no macro negative stimulus in the market, short-term Zheng cotton will focus on the oscillation. It is expected that the spot market oscillation will pick up after the downstream warmer in March. If it continues to fall to around 29500 yuan, it can do more dips.

US cotton fell to domestic market

After rushing to a high level of 34870 yuan last Thursday, Zheng cotton fell sharply in the next 5 trading days.

Since last Friday, the main force 1109 has fallen by more than 10%.

Yesterday, the loss of 30 thousand yuan in the big cap, the lowest 29820 yuan in the disk, 30590 yuan to close, closed slightly.

Yesterday, Zheng cotton was driven by the decline of US cotton.

The Intercontinental Exchange (ICE) cotton market closed down for fourth consecutive trading days on, and the ICE05 period was about to decline again.

The ICE-5 cotton contract fell 7 cents, or 3.8%, to $1.7723 a pound.

A report by the US Department of agriculture (USDA) shows that some agricultural products have been planted in large areas.

Stage cotton

A massive sell-off in the market.

On the spot market, Xu Zhou, a futures analyst in East Asia, said that since the Spring Festival had just passed, the domestic textile enterprises' operating rate had not reached its peak, and after 30 thousand yuan at the cotton price station, the domestic textile enterprises were more stocking with the way of buying and selling, and the short-term demand slowed down.

In addition, in December and January, when foreign imports of cotton came to Hong Kong in large quantities, the supply in the short term was relatively adequate, resulting in a phased callback of cotton prices.

In February 25th, China's cotton price index (328) was 30298 yuan / ton, down 67 yuan / ton.

In February 24th, the import cotton price index (FCIndex S) was 218.38 cents / pound, down 4.69 cents / pound; 1% tariff 36402 yuan / ton, down 778 yuan / ton; discount sliding duty 36688 yuan / ton, down 769 yuan / ton.

The market will continue to operate at a high level.

For the future market, the new Lake

futures

Liu Qing, an agricultural product analyst, said that on Thursday, Zheng Mian 1109 faced 30 thousand yuan integer pass, and then rebounded after a small break of 30 thousand yuan yesterday. The 40 day moving average rose into a rebound resistance.

If there is no big macro stimulation, it is expected that Zheng's cotton will be dominated by oscillating base in the short term, and the oscillation interval is between 29300~31000 yuan.

In the wake of the warmer March, it is expected that the cotton spot will also rebound. For example, the recent 1109 cotton contract in Zhengzhou cotton fell to 29500 yuan, and a small amount of dips could be done.

However, Xu Zhou, a futures analyst in East Asia, believes that although Zheng cotton received a slight gain yesterday, it is still in a short-term downward path.

Due to short-term regional turmoil, the external market trend is also oscillating drastically. It is estimated that cotton trend will continue to callback before the new cotton planting area is determined in the new year.

It is suggested that empty sheets be kept on operation.

However, analysts also believe that the spot price of cotton is still more than 30 thousand yuan, providing support for the decline in cotton prices. Since the long-term supply shortage of cotton has not been solved, the market will remain at a high level.