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Cotton Futures Rose On Thursday, But The Rally Was Limited.

2012/3/16 9:33:00 16

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Cotton Futures Are Limited By Domestic Cotton Imports

March 15th, cotton

futures

Thursday's rally helped investors and peripheral markets to lift, but analysts pointed out that continued worries about the economic outlook pushed up the rally.

The ICE5 cotton contract rose 0.20 cents to 87.34 cents a pound. The intraday fluctuation range was 87.07-88.26 cents, which is within the range of Wednesday 87.05-88.59 cents.

News, March 15th, the United States

Ministry of Agriculture

The US cotton export report was released on 2-8 March 2012.

In the week of 2011/12, the net volume of US cotton exports was 54 thousand and 400 tons, the highest in the year. The main buyers are China (17 thousand and 600 tons), Mexico, Vietnam and Indonesia.

The net contract volume of US cotton exports in the 2012/13 was 26 thousand and 900 tons, with the main buyers in Mexico and China (2 thousand tons).

In the international market, in March 15th, the price of imported cotton in China's main port fell slightly, and most varieties fell by 0.75 cents.

It is understood that at present, China's port overstock a large number of cotton, the number is about 1 million tons, as long as the textile factory gets the quota, can pick up the goods at any time.

Judging from the overall situation, the ban on India's cotton exports has not had much impact on the market, and the low market demand and the shrinking export of textile factories are all the main reasons for the fall in cotton prices.

Domestic market, 15, domestic cotton

Goods in stock

Prices continue to drop slightly. Raw material inventories of textile enterprises have been very limited for real estate cotton after a period of consumption. However, the purchase of low-priced imported cotton continues to increase, and the use of Brazil, Australia, Central Asia and even West Africa cotton is very common.

With the closing of the national storage and storage, the decisive role of the downstream consumer market warming will further show the trend of cotton prices.

Collection and storage summary, in March 15th, China cotton reserve management company plans to purchase and store 2011 tons of cotton 89000 tons, actually clinch a deal 22910 tons, turnover rate is 25.7%.

As of March 15th, cotton temporary storage and storage pactions totaled 2 million 894 thousand tons this year, including 1 million 286 thousand tons in the mainland and 1 million 608 thousand tons in Xinjiang.

Spot quotation. In March 15th, the price of C/A cotton in the US was 106.35 (cents / pound, the same below). The general trade port delivery price was 17419 yuan / ton (calculated according to the sliding tax, the same below). Australia cotton quotation was 108.35, the general trade port delivery price was 17892 yuan / ton, the Uzbekistan cotton quotation was 108.35, the general trade port delivery price 17892 tons, the West African cotton price 103.60, the general trade port delivery price 17149 tons.

Domestic cotton prices fell slightly. The A index of the national cotton price representing the 229 class cotton prices in the mainland was 20797 yuan / ton, down 2 yuan / ton compared with March 14th. The B index of the national cotton price on behalf of the 328 grade cotton in the mainland was 19621 yuan / ton, down 3 yuan / ton compared with 14 in March.

Market analysis, due to the lack of driving force for price increase in the new year market, the temporary storage price is a "stabilizer" at home and abroad, supporting cotton prices at a reasonable level of about 22 thousand yuan / ton to remain relatively stable.

Future import inflation and other macro factors or increase the cotton price trading range, but with the end of the end of the purchase and storage, the consumption is temporarily light, the price will gradually return to the spot.

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.

Yesterday, the 09 contract fell below 21400 key support, and the period price closed to 21000.

Operation recommendations, 21400 below the short-term weakness, day operations, recent concerns about the support of the 21000 line.