US Cotton Appears To Be Down, And Domestic Jump.

US cotton futures closed near a low of nine months on Monday, due to the rise in the US dollar and the euro zone debt crisis. Cotton demand The impact of worries led investors to liquidate. The ICE index of cotton futures closed down 5 cents at 1.0888 dollars per pound in December.

Today, Zheng cotton 1201 contracts jumped. Low opened at 21830, the highest 21830, the lowest 21155, closed at 21435, compared with the previous trading day fell 1030 points (-4.58%). cotton Index positions increased 18660 positions, turnover of more than 1 million 290 thousand hands.

In the spot market, in July 12th, China's cotton price index (328) was 22856 yuan / ton, down 153 yuan / ton. In July 11th, the import cotton price index (FCIndex S) was 159.13 cents / pound, down 0.22 cents; 1% tariff 26180 yuan / ton, down 36 yuan; discount sliding duty 26531 yuan / ton, down 36 yuan.

In June 30th, the US Department of Agriculture released the report on crop acreage. It predicted that the cotton planting area in the United States will grow to 13 million 700 thousand acres in 2011, an increase of 25% over the same period last year, higher than the average estimated value of 12 million 690 thousand acres in the market, which is also higher than the 12 million 570 thousand acres previously predicted. Among them, the planting area of upland cotton is 13 million 400 thousand acres, an increase of 25% over the same period last year, and the planting area of Pima cotton is 289 thousand acres, with an annual increase of 42%. The latest cotton planting area in the United States has exceeded the market expectations. Although the main cotton producing areas in the United States are threatened by drought, their output is likely to increase again after planting a new high in recent years, which will help improve the cotton supply and demand in the United States. Globally, cotton production in the new year is also expected to be excessive, but stocks are still low. Therefore, the market will remain in a short time. Low inventory Cotton prices will continue to maintain a high operating trend.

Judging from the trend of the disk, Zheng cotton was affected by the US cotton limit today. The price continued to fall after opening, the lowest to 21155, then rebounded, and the position continued to increase. Cotton fell today, breaking through the nearly two weeks shock interval, choosing to break through. Overall, cotton has not changed in the long decline channel. At present, it is suggested that light duty should be involved in the operation.