Xinhua Futures: Cotton Research And Development Viewpoint

Cotton: Cotton continues weak area finishing

　 1, outer disk:

Intercontinental Exchange (ICE) index month Cotton futures On Thursday, it closed down for third days. The weekly report on export sales released by the US Department of agriculture (USDA) was disappointing. The ICE-5 cotton contract CTK1 fell 1.31 cents, the settlement price was 1.9604 dollars per pound, and the trading range was 1.9406 to 1.9788 dollars, the former two weeks low. In July, the cotton contract CTN1 fell 2.64 cents, which was collected at 1.78 dollars per pound. The new December cotton contract CTZ1 fell by 2.25 cents, and it was quoted at 1.3245 dollars per pound.

　　 2, China:

Zheng cotton CF1109 contract opened low, after the early morning shock, in the short selling to suppress lower down, intraday lateral consolidation, afternoon continue to increase positions downward, the daily line formed low open Yin line, intra day trading volume amplification, position change little. CF1109 contracts concluded 2133070 hands on the day, 4718 additional positions at the end of the day, 400574 hands at the end of the contract; 275522 contracts on the CF1111 contract day, 6100 on the day, 125104 at the end.

　　 3. Stock side:

　　 Spot quotation The price continued to decline, while some regional quotations remained stable, but there were few transactions. Some small textile enterprises continue to expand due to the pressure of operation, and the replacement of cotton textile factories is obvious. The sales of pure cotton yarn is still not optimistic, and enterprises continue to wait for improvement in the downturn. Spring sowing work has been carried out all over the country. Due to the obvious increase in temperature in the past two days, the seeding rate in Xinjiang has been quickening. According to the weather forecast, the weather in Xinjiang is conducive to sowing in the next ten days. On the 13 day, China's cotton price refers to (CCIndex328) 29452 yuan / ton, down 61 yuan, 527 cotton to plant average price 26721 yuan / ton, down 21 yuan.

　　 4, operation: it is expected that the country will improve again in the near future. reserve Light storage is carefully held.