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Cotton Futures: Institutional Watch

2012/3/14 18:32:00 5

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[market performance]

ICE cotton cotton futures on Tuesday ended on a five day decline, which may be a consumer purchase. The May cotton contract CTK2 rose 0.04 cents, at 88.04 cents per pound, and the intraday trading range was 87.94-88.93 cents.

[spot market]

The national cotton index has not changed much.

At present, the cotton market is also waiting for news from India. Last week, India announced the ban on cotton exports, and this week the India government's position softened and some cotton was allowed to be shipped. The industry and the government disagreed on the issue.

[operation suggestion]

The market is waiting for Thursday's weekly export sales data released by the US Department of agriculture (USDA) to determine the impact of last week's India export policy stance on demand. In the short term, or entering a broad concussion, it is recommended to wait and see.

[MEIKO futures] purchase and sales link is light, Zheng cotton pays close attention to lower edge support.

Overnight, cotton futures closed down for five days in March 13th, due to trading and possibly buying by consumers, for the first time in March 13th.

The ICE5 cotton contract rose 0.04 cents at 88.04 cents a pound, with a trading session of 87.94-88.93 cents.

In the international market, in March 13th, the price of China's main cotton imports varied. Most varieties fell by 0.25 cents, while Central Asian cotton fell 0.75 cents. Australia cotton and Brazil cotton fell 1 cents, while E/MOT cotton rose slightly 0.25 cents.

It is worth noting that India cotton, which is missing for many days, also has an offer. Compared with the export ban, the price of S-6 rose by roughly 2 cents.

In the past week, the market has been confused by India's cotton export policy. The latest news is that the India government will cancel the export ban.

Domestic market, 13 days, domestic

Cotton spot

Prices continue to remain weak.

Textile enterprises remain calm and wait, and there are few pactions on the spot, the sales market is still cold, the stock of gauze is high, and the cash flow is gradually tightening.

India's cotton export policy is still changing. There is the latest news that the India government will cancel the export ban. Some people in the industry believe that the export of cotton in India has exceeded 1 million 400 thousand tons. Therefore, whether or not India continues to export cotton has no fundamental impact on the global market supply and demand pattern. In the short term, the trend of domestic cotton prices will remain unchanged.

Spot quotation. In March 13th, the price of C/A cotton in the United States was 103.90 (cents / pound, the same below). The general trade port delivery price was 17182 yuan / ton (calculated according to the sliding tax), the Australian cotton quotation was 110.85, the general trade port price was 18283 yuan / ton, the Uzbekistan cotton quotation was 109.85, the general trade port delivery price was 18120 yuan / ton, the West African cotton price was 104.35, the general trade port delivery price was 17255 yuan / ton, the India cotton quotation was 99.10, the general trade port delivery price was 16428 yuan / ton.

Domestic cotton prices continued to fall, representing the national cotton price A index of 229 cotton in the mainland was 20803 yuan / ton, down 3 yuan / ton compared with March 9th, and the national cotton price B index representing the mainland's 328 grade cotton price was 19627 yuan / ton, down 3 yuan / ton.

Market analysis, because the new year's market consumption lacks driving force to drive up prices.

Temporary purchase and storage price

It is a "stabilizer" of prices at home and abroad, which supports cotton prices to remain relatively stable at a reasonable level of around 22 thousand yuan / ton.

Future import inflation and other macro factors or enhance the cotton price trading range.

Recently, ICE cotton prices continued to drop to near the low point last year. Zheng cotton was at a high concussion, and the internal and external spreads increased again.

At present, the 09 contract is defined as 21400-22000 interval shock market.

In addition, the recent strong A share and the overnight Dow's rise will give investors a warm mood and pay more attention to boosting the commodity market.

Operation suggested that consumption expectations are weak but there are support for storage and purchase, and 21400-22000 will form a concussion interval.

[German Institute] the rate of margin reduction is expected to be higher.

On Tuesday, CF1209 was in a narrow concussion. CF1209 closed more than 10.1 million hands, and its position decreased slightly.

CF1209 closed at 21590 yuan / ton, up 10 yuan / ton, reduced 3506 positions; in March 13th, China imported cotton (21680,90.00,0.42%) (FC Index M) 99.22 cents / pound, fell 0.47 cents / pound, 1% yuan tariff reduced price 15918 yuan / ton, sliding price conversion price 16406 yuan / ton.

Matching the market: in March 13th, the cotton trading market of the national cotton trading market reached 14060 tons, an increase of 340 tons from the previous day, an increase of 1280 tons of orders and an aggregate purchase of 111380 tons.

On the 13 day, it continued to dispose of the weak pattern. The intraday earthquake was narrowed, and the end of the day was down except for MA1207.

In recent months, the MA1203 contract closed at 19945 yuan, down 20 yuan; the main MA1204 contract closed at 20195 yuan, down 3 yuan.

According to the news of New York on March 13th,

Cotton futures

On Tuesday, the five day decline was small, analysts said.

The ICE cotton contract rose 0.04 cents at 88.04 cents a pound in May.