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Market Sentiment Lax &Nbsp; The Cotton Market Is Temperate.

2011/6/20 11:49:00 56

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Overnight, the ICE futures closed down shortly after the opening of the ICE futures market on Friday. It fell to 117.87 cents in the middle of the market, and then there was no sign of easing because of the drought in Texas.

Meteorological Department expects that in the next few days Texas will continue to maintain high temperature and hot weather.

The direction of the market is not clear, the Fed's Conference on interest rates will be the focus of market attention, so ICE cotton prices may be a big shock in the near future.

News, the United States Department of agriculture's monthly report in June has reduced the harvest area of 2011/12 cotton to 61 million 960 thousand mu, equivalent to 19% of the abandoned cultivation rate.

At present, the cotton fields in the southern part of the United States are experiencing drought and drought.

It is reported that the US Department of agriculture will be released at the end of June.

cotton

Prediction of actual area.

International market, June 17th.

Imported cotton

The price of China's main ports varied, and cotton, India cotton and West African cotton fell by 3.5-4 cents, while Central Asian cotton, Brazil cotton and Australia cotton rose 2.5-4.5 cents.

On the same day, some foreign merchants raised the price of foreign cotton, and the increase was larger.

Generally speaking, cotton traders generally expect higher sales in the summer, and domestic cotton consumption is expected to rebound somewhat with the arrival of summer. Therefore, the bottom of the international cotton price should have strong support.

Domestic market, 17, domestic cotton spot prices continue to decline.

The volume of cotton exports to the United States increased in the previous week, but at present, the price of imported cotton is still much higher than the spot price of domestic cotton, which is of limited significance to the domestic cotton market.

After the domestic CPI maintained a relatively high level and the deposit reserve ratio rose, the central bank raised expectations for further interest rates, and the commodity market was under pressure.

Textile enterprises in the procurement of raw materials, "buy or sell, buy or fall" herd psychology is widespread, coupled with the downstream textile enterprises to stop production phenomenon is still continuing, cotton spot price weakness is expected to continue.

Spot quotes, June 17th, USA

C/A cotton

The price quoted is 162.10 (cents / pound, the same below). The general port trade delivery price is 27135 yuan / ton (calculated according to the sliding tax, the same below).

Australia cotton quotation is 174.85, discount general port trade port delivery price 29197 yuan / ton.

Uzbekistan cotton quotation is 176.35, discount RMB general port trade delivery price 29446 tons.

The quotation for West African cotton is 193.21, and the general port trade delivery price is 32179 yuan / ton.

National cotton price A index 26432 yuan / ton, down 6 yuan; B index 24482 yuan, down 8 yuan.

Market analysis, market sentiment at this stage is not good, lack of information guidance, the price is short and tight, both inside and outside the market to test the previous low platform support, 1109 and 1201 contracts, pay attention to the support of the 23000 tier below.