Cotton High And Low &Nbsp; Intraday Trend Shocks

U.S.A cotton Futures closed slightly higher on Friday and investors bought in light trading. Market participants waited for the US Department of agriculture to announce crop growth next Monday. Intercontinental Exchange (ICE) index December cotton futures CTZ1 rose 0.01 cents, to 0.9864 dollars per pound.

Today, Zheng cotton 1201 contracts go higher and lower. It opened at 21750, the highest 21770, the lowest 21535, closing at 21630, down 55 points from the previous trading day (-0.25%). Cotton index positions increased 11602 positions, turnover of more than 910 thousand hands.

In the spot market, in July 25th, China's cotton price index (328) was 20875 yuan / ton, down 221 yuan / ton. In July 22nd, the import cotton price index (FCIndex S) was 138.36 cents / pound, down 1.13 cents; 1% discount. tariff 22758 yuan / ton, a decrease of 184 yuan, a discount tax of 23178 yuan / ton, a decrease of 183 yuan.

According to the China Cotton Association survey, most of the cotton entered the bud stage in June, and the growth of most parts of the country was better. It is estimated that the total area of cotton planting in the whole country will be 81 million 220 thousand mu in 2011, an increase of 220 thousand mu from the previous month, and a 5.5% increase compared with the previous year. At the recent stage, the production of downstream textile enterprises is almost stagnant. Textile enterprises had high price of cotton, resulting in increased production cost pressure, so the downstream inventory slowly. According to statistics, in 1-5 months, the number of garments imported from the United States increased by 6.3% over the same period last year. The number of garments imported from China dropped by 0.8%, and the number of imported garments from Vietnam, Bangladesh and Indonesia increased by 17.8%, 15.8% and 17.5% respectively. This shows that the competitiveness of China's textile and clothing in the international market has declined, and some orders have been transferred. Many enterprises reflect that the order this year dropped by about 20%. On the whole, domestic At present, the textile enterprises are facing the weakness of export and domestic sales, which leads to the slow down of inventory and the downstream demand.

Judging from the trend of the disk, Zheng cotton opened high today, after the opening price, cotton prices dived, the lowest to 21535, followed by jerk, the highest to 21770, intraday shock, and increased positions. Cotton is going up and down today, which is still lingering in 21000-22000 in the short term. On the whole, cotton's short-term decline has slowed down and is still in the process of falling. at present On the operation, it is suggested that the bears should be held in the early days.

The above views are for reference only, not as the basis for market participants to enter the market. Futures are risky and investment must be prudent.