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US Cotton Has Hit A Record High Of &Nbsp; The Pressure At The Top Of The Inner Panel Is Bigger.

2011/3/7 14:03:00 56

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The overnight market was stimulated by speculative buying.

ICE cotton

Futures rose all the way after opening high and closed at a record high.

On the one hand, the impact of the good momentum of US cotton exports on the market has not ended. On the other hand, the supply of market resources is still tight, so as to attract buyers to enter the market.

From the current situation, the market will continue to rise.

News, in the past few weeks, the drought in most parts of Queensland and New South Wales in Australia has made the earlier flood gradually retreat, which is very beneficial to the growth of cotton plants that are being laid out. The weather forecast shows that there may be rainfall in the above regions this weekend, rainfall is about 25.4-101.6 mm, which may affect the quality of late cotton.

In the next 6-10 days, dry weather will occur again in the main cotton producing area of the country. Although it is conducive to the growth of cotton plants, it may lead to a reduction in cotton production by 5%-7%.

In the international market, in March 4th, the price of China's main port of import cotton continued to rise, and most varieties rose 4-5 cents, and the quotation trend continued to show a trend of near rising and falling.

Correspondingly, the procurement of textile enterprises is still mainly in the long term and new year.

The latest American cotton

Exit

According to the weekly report, China signed more than 20 thousand tons of cotton in the new year.

Meanwhile, the shipment of US cotton to China has increased steadily, so the number of cotton to port in the coming months is expected to remain at a high level.

Domestic market, in March 4th, domestic cotton spot prices continue to maintain momentum.

The price of the downstream fabric has increased, but it is still in the buyer's market state. The turnover is light, and there is no sign of increasing the strength of the cotton textile enterprises in the short term.

The price increase of cotton purchasing enterprises has led to a marked rise in seed cotton prices, but cotton farmers are reluctant to sell.

Spot quotes, March 4th, USA

C/A cotton

The price quoted is 242.40 (cents / pound, the same below). The general port trade delivery price is 40604 yuan / ton (calculated according to the sliding tax, the same below).

Australia cotton quotation is 237.55, discount general port trade port delivery price 39834 yuan / ton.

Uzbekistan cotton quotation is 255.35, discount RMB general port trade delivery price 42730 tons.

The quotation for West African cotton is 273.25, and the general port trade delivery price is 40745 yuan / ton.

The national cotton price A index was 31879 yuan / ton, up 90 yuan; the B index was 30988 yuan, up 95 yuan.

Market analysis, overnight cotton cotton 05 main contract price closed at the limit, and set a record high of 212.70 cents / pound, from the technical indicators, no oversold.

Zheng cotton trend is up and down, CF 1109 contract above 34000 Yuan line pressure is strong, below 30 thousand front-line cost support.

Operation recommendations, effective break through the period more than 33400 single follow-up.