Although Cotton Trading Positions Rose Sharply &Nbsp, Rebound Prospects Are Not Good.

In May 11th, cotton futures on the Zhengzhou Mercantile Exchange went up and down, and the main 1109 contract rose 1.68% to 25180 yuan per ton compared with the previous trading day.

It is noteworthy that recently

Liu Qing, an analyst at new lake futures, told an international financial daily reporter: "from the price point of view, the price of Zheng Mian does not match its huge volume. This shows that the sharp rise in turnover and position reflects not only unilateral power, but also serious disputes.

From the trend of Zheng cotton's high and low position, the bears are more dominant.

Shanghai futures analyst at the medium term saw that there was not much change in the fundamentals of Zheng cotton.

In May 8th, snowfall occurred in Hami, Yili, Aletai and other places in Xinjiang, but this had little effect on cotton growth and would not endanger the future supply of cotton.

He further pointed out: "as long as it is not catastrophic weather, the impact on cotton will not be great.

Moreover, the weather has not yet entered the period of speculation, in previous years, after August, cotton began to Blossom Peach Peach, this time the weather has a fundamental impact on cotton yield and quality.

Besides the weather, the downstream demand of the cotton market is also changing little.

Liu Qing points out, "

"Because of the strict control of inflation in China, the tightening of regulatory policies is expected to increase, and the cost of credit has risen sharply. At the same time, the pace of RMB appreciation has accelerated, and the cost of labor has risen steadily.

See the thunder, said: "cotton price rebound can only take one step to see one step, the height of the rally may be more limited."

Liu Qing said that the main contract price of Zheng cotton did not break through the 10 day moving average, and the price fell back to the low point.

If it falls below the price level of 24200 yuan per ton, the overall price center will once again move to 21000 yuan per ton.