Hongyuan Futures: Cotton Purchase And Storage Price Is Lower Than Expected This Year.

　　 Price Bulletin: domestic lint 129 level 21826 (-5) yuan / ton; 229 level 20838 (-2) yuan / ton; 328 level 19653 (-4) yuan / ton; 428 18825 (-4) yuan / ton. Domestic textiles: polyester staple fiber 11520 (-0) yuan / ton; viscose staple fiber 17220 (-50) yuan / ton; C32S price 26630 (-20) yuan / ton.

　　 Price structure: Yarn cotton The spread price of C32S-CottonB is 7009 yuan / ton; the price difference between cotton and polyester is 7991 yuan / ton; the difference between time and price CF1209-CNCottonB is 1859 yuan / ton; the difference between inside and outside cotton price is 2373 yuan / ton.

　 Domestic stock: 29, domestic cotton spot prices continue to small. Fall The main port price of imported cotton in China follows ICE futures slightly. At present, foreign businessmen are optimistic about the shortage of high-grade cotton in Xinjiang cotton. At present, raw materials are strong, yarn is unsalable, and many enterprises complain about shrinking profits. The purchase price of seed cotton has steadily increased, but the number of acquisitions has decreased, the quality has declined, and the four or five level is more.

　　 International Spot: In March 1st, the price of China's main port of import cotton generally declined, and the biggest decline varieties included Australia cotton and Central Asia cotton, which fell 1.5 cents, while other varieties fell 0.5-1 cents. It is understood that spot market demand has increased significantly after the fall in cotton prices, especially for high-grade varieties.

　　 ICE cotton: In March 1st, ICE futures ignored the good news of the decline in the US dollar index and the general trend of the commodity market. As the May contract failed to break through the resistance of 93-94 cents, it led to the liquidation of investors and the settlement price fell to below 90 cents again.

2012 plan for storage and purchase: in 2012, the provisional storage price of cotton is 2012 yuan per ton (weight) per standard cotton lint, and the price of other grades of lint is calculated according to 3% grade difference and 1% length difference.

　　 Summary:

High domestic and foreign cotton prices limit the domestic cotton prices. Gain If the price spreads widened again, it would be very likely to experience a real pressure again. We believe that there is a greater pressure on zhengmian futures than a bull market basis. The cotton temporary purchase and storage plan was unveiled in 2012, and the standard cotton to warehouse price was 20400 yuan / ton, up 600 yuan / ton compared with the previous year, lower than expected. Yesterday, the 20 day moving average near the empty single can continue to hold.