Early Evaluation Of Cotton Futures In August 22, 2012

Outward trend: Intercontinental Exchange (ICE) Cotton futures The ICE-12 cotton contract rose 2.47 cents to 74.83 cents / pound.

1. According to the cotton seedling report released by the US Department of agriculture in August 20th, as of August 19th, the US cotton boll rate was 93%, 1 percentage points higher than that of the same period last year, and 6 percentage points higher than the average in the past five years. The cracking rate reached 17%, 2 percentage points higher than the same period last year, and 3 percentage points higher than the average in the past five years. The situation was basically the same as last week, but still significantly better than last year. The proportion of excellent, good, middle, bad and bad was 10%, 32%, 29%, 19%, and 11% respectively.

2, in mid August, most of the cotton entered the bell ring period, and some of them began to boll out. At present, the impact of typhoons on the eastern cotton region has ended. Hebei, Shandong, Anhui and other places affected by heavy rainfall in the early stage cotton Is gradually recovering. Recently, although there is still rainfall in the cotton fields in the mainland, the rainfall is not large. There is no continuous rainy weather for many days. Most of the weather clears on weekends. The weather in Xinjiang cotton area is good, and the conditions of light and heat are conducive to the growth and development of cotton. The main reason for rainfall is that it is more advantageous to alleviate drought in some cotton fields.

On the spot side: cotton index 328 price is 18393 yuan / ton, and rose 2 yuan / ton on the previous trading day.

Warehouse Receipt Inventory: 1748 registered exchange receipts, 29 fewer than the previous trading day, and 13 valid forecasts. (each corresponds to 40 tons of cotton).

Summary of the views: ICE cotton rose more than 3%, technical buying price continued to rush. Domestic cotton spot prices rose slightly, the market is still relatively stable, low price Xinjiang cotton and cotton are still the main market spanactions, inquiry, turnover increased earlier, textile mills cautious purchase, raw materials to buy with the main, downstream. Yarn price Stable. Pay attention to the support of new year's purchase and storage policy for new cotton. Zheng cotton 1301 contract slightly upward, concerned about whether the price can break through the previous high 19685 pressure. On the operation, we should reduce the number of spanactions.