Zheng Cotton Continues To Drop More Than Ever

Zhengzhou cotton futures continued to plummet on Tuesday. The main 1205 contract opened at 20660 yuan / ton, noon closed at 20530 yuan, down 150 yuan compared with Monday (26) settlement price.

　　 outer disc 2 consecutive trading days, relying on 100 cents / pound rebounded slightly, the price will continue to test the 90 line trend support. The technical performance of Zheng cotton is that many single bargains have led to a fall in the price of futures, and there is no limited energy expansion. As the price is approaching the state's purchase and storage price, it is not expected to have much room below.

International market, most of September 26th Imported cotton China's main port price increased by 300 yuan / ton. In contrast, E/MOT cotton prices in the US are rather expensive. It is understood that recently, due to the fact that American cotton is picking, the limited amount of lint available for processing has resulted in a higher price. Moreover, most of the imported cotton that can be delivered in the near future is mainly used as the old ones, and the price is close to the national cotton.

In recent days, the weather in Uzbekistan has been clear and the temperature has dropped slightly. The picking of new flowers has accelerated. According to the private sector estimates, the cumulative purchase of seed cotton has exceeded 1 million tons. With the quickening of the processing speed of the cotton ginning plant, it is estimated that the amount of new flower processing or more than 70% of the expected total output will be at the end of this month.

In addition, recently, Pakistan is mainly dry with high temperature, and some of the water flooded cotton fields in Sindh prefecture have been dry and the main products are dry. Cotton region The new flower picking and acquisition efforts have been accelerated. The price of domestic lint continued to decline due to the gradual increase in the listing of new flowers and the weakening of ICE futures. However, the quality of cotton purchased by cotton enterprises is not good at present, and the purchasing demand of textile mills has declined compared with the previous stage.