Falling Cotton Is Still Going On.

Overnight, the US stock market and commodity futures continued to tumbled. ICE cotton Flower futures continued to plummet and contract prices fell 300-400 points.

In addition to the harsh external environment, this year's US cotton contract continues to be largely cancelled. It is also worrying that US cotton exports are hard to meet USDA's expectations. Cotton prices continue to be bearish in the face of heavy pressure on cotton market fundamentals and external environment in recent years.

On the news side, the US cotton export weekly (2011.04.22-04.28): the contract continued to be negative this year, and the volume of freight traffic increased significantly. In the week of 2010/11, the net export volume of us upland cotton was -1474 tons. American upland cotton in 2010/11 Export assembly The freight volume was 96 thousand and 400 tons, an increase of 21% over the previous week, an increase of 123% over the previous four week average. In the year of 2010/11, the contract volume of the US Pima cotton net export was 317 tons, 72% less than the previous week, and 47% lower than the average value of the previous four weeks. In 2010/11, the transport capacity of Pima cotton is 1723 tons.

In the international market, the price of China's main port of import cotton fell 6 cents yesterday, Egypt. Long-staple cotton It also dropped 2-3 cents. As ICE futures contracts are relatively strong, and textile companies are interested in the recent cotton delivery next spring, foreign investors' new flower quotes have declined slightly. With the passage of time, the focus of the market has shifted to the prospect of planting and production in the new year. The current price of new flowers is attractive to buyers. In the short term, the market will remain stable in recent months.

Domestic market, yesterday's foreign cotton spot market is not good, and domestic profits continue, textile product inventory overstock, monetary tightening, labor costs rise so that textile enterprises are faced with heavy pressure, the enthusiasm of purchasing cotton is greatly reduced, domestic cotton spot prices continue to decline, textile after the cotton price has just cut 500 yuan, this morning down 1000 yuan / ton again, 3 cotton accept price fell to 24000 yuan / ton, far lower than the spot actual transaction price, with the electronic disk market, and the already fragile market confidence heavy blow.

Spot quotation. In May 5th, the price of C/A cotton in the United States was 184.60 (cents / pound, the same below), and the general port trade delivery price was 30857 yuan / ton (calculated according to the sliding tax). Australia cotton quotation is 183.60, discount general port trade port delivery price 30721 yuan / ton. Uzbekistan cotton quotation is 194.60, discount RMB general port trade delivery price 32487 tons. The quotation for West African cotton is 204.80, and the general port trade delivery price is 34146 yuan / ton. National cotton price A index 28059 yuan / ton, down 91 yuan; B index 26511 yuan, down 123 yuan.

Market analysis shows that the US cotton weekly export data show that the US cotton contract has been cancelled a lot, and the peripheral financial market is sluggish. The overnight price of US cotton main contract price continues to test the important support of 143 cents / pound. Yesterday, the price of 09 Zheng cotton filled the gap of the gap formed in October 21st last year, and overall, the weak form has not changed.

The operation suggests that the empty list will continue to hold, and if the former is strong enough to rebound, part of the profits will be realized.