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MEIKO Futures: Seed Cotton Sales Progress Is Slow &Nbsp; Cotton Price Inertia Plate.

2011/10/21 11:22:00 19

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Overnight, October 20th, ICE cotton.

futures

On Thursday, the 14 month low ended as investors cleared their positions. Analysts said the market's worries about the European debt crisis were lingering and cotton demand was weak, forcing prices to fall through key support positions.

ICE index in December cotton fell about 2.86 cents, or about 3%, at $0.9686 per pound, and the intraday trading range was 0.9678-1.0004 dollars.

This is the first time the market has broken through the 0.98-1.04 US trading range for nearly four weeks.

On the news side, the latest data of the Ministry of Commerce of India showed that the output of cotton yarn in India in August was only 259 thousand and 700 tons, a decrease of 13.5% over the same period last year, and it decreased at a double-digit rate for fourth consecutive months.

Affected by this, the total yarn output decreased by 8.1% in the same month, a record low.

The main reason is textile demand slump and interest rate rise.

International market, October 20th, China's main port of import cotton

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The West African cotton and Australian cotton increased slightly.

In the past two days, the quotations of cotton quotations had not changed much and remained relatively stable.

For textile enterprises, inexpensive cotton is not much, and domestic high-grade cotton is also on the market.

Judging from the current situation, the new high-grade cotton in the United States will arrive in Hong Kong after November.

Collection and storage summary, in October 20th, China cotton reserve management company plans to purchase and store 2011 tons of cotton 33000 tons, actually clinch a deal 5040 tons, turnover rate is 15.3%.

As of October 20th, the cumulative turnover of the year was 15890 tons, of which 3210 tons in the mainland and 12680 tons in Xinjiang.

Spot quotation. In October 20th, the price of C/A cotton in the US was 120.85 (cents / pound, the same below). The general port trade delivery price was 20052 yuan / ton (calculated by sliding tax, the same below); Australia cotton quotation was 123.85; the general port trade port delivery price was 20751 yuan / ton; the Uzbekistan cotton quotation was 125.35, the general port trade delivery price 20964 tons, the West African cotton price 115.60, and the general port trade delivery price 19208 tons.

Domestic cotton prices continued to fall, representing the national cotton price A index of 229 cotton in the mainland was 21083 yuan / ton, down 72 yuan / ton compared with October 19th, representing 328 mainland level.

Cotton price

The B index of cotton prices in the country is 19643 yuan / ton, down 62 yuan / ton.

Market analysis showed that the volume of the US cotton weekly export data showed that the volume and volume of shipment were not good, mainly because the sale of Chen cotton was still concentrated.

At present, China's seed cotton sales progress is slower than the same period in previous years, the purchase and sale as a whole stalemate, cotton prices do not have the conditions for substantial fluctuations.

NYBOT US phase cotton 12 main contract, the price will break 100, still see that continue to shake down.

In the near future, Zheng cotton belongs to the trend of inertia, and gradually proceeds to protective price.