Domestic Cotton Prices Fall In Limited Scope

Market Review

(1) Zheng cotton futures market review: yesterday, Zheng cotton 1301 contract opened 19600 yuan / ton, closing at 19475 yuan / ton, compared with the previous trading day fell 235 yuan / ton, the highest price 19630 yuan / ton, the lowest price 19450 yuan / ton.

Turnover increased slightly to 113762 hands, and positions increased by 1424 to 232838.

(2)

Market review: yesterday, US cotton futures continued to decline, futures contracts in December fell 0.75 cents / pound, or 1.02%, closing at 72.5 cents / pound.

(3) China

Latest index data: yesterday, China's cotton price index 328B rose 7 yuan / ton, 18658 yuan / ton.

(4) electronic matching market pactions: yesterday's paction was reduced, matching MA1209 contracts have been delivered, MA1303 contracts are listed.

On the same day, the MA1211 contract concluded a turnover of 5340 tons, the largest contract on that day. The new contract MA1303 contracts 1000 tons, and the other contract volumes ranged from 380 to 3500 tons.

A small increase in order quantity, the same day MA1211 and MA1302 order amount to a working day will not change, the new contract MA1303 order quantity is 0; MA1210 and MA1301 order quantity increased by 80 tons and 120 tons respectively; MA1212 order quantity reduced by 80 tons.

Average price fell, the MA1302 contract fell 165 yuan / ton on the same day, the biggest decrease, and the other contracts fell 19 - 98 yuan / ton.

Two, basic information

(1) in September 24th, the planned acquisition and storage of 50000 tons, the actual turnover of 26600 tons, the paction ratio of 53.2%, an increase of 8210 tons compared with the previous day.

Among them, the Xinjiang warehouse point plan to close and store 23000 tons, actually clinch a deal of 21440 tons, with a turnover rate of 93.2%, and the inland Treasury plan to store and store 27000 tons, with a turnover of 5160 tons, with a turnover rate of 19.1%.

(2) according to the news of Washington September 24th, the US Department of Agriculture announced in its weekly growth report that the growth rate of cotton growth in the United States was 43% in the week September 23rd, compared with 43% in the previous week and 29% in the same period last year.

The boll rate of cotton in the United States was 69%, 59% in the previous week, 73% in the same period last year, and 62% in five years.

Cotton harvest rate was 10% in the United States week, 6% in the previous week, 11% in the same period last year, and 11% in five years.

(3) in September 24th, the number of cotton reserves put into operation was 45294.73 tons, and the actual paction volume was 19445.29 tons, with a turnover ratio of 42.93%, a decrease of 76.53 tons compared with the previous trading day. The average daily turnover reserve cotton was 3.37, which was 0.13 lower than that of the previous trading day; the average length was 27.83, which was 0.09 lower than that of the previous paction; the weighted paction price was 18407 yuan / ton, and the turnover rate of 328 grade was 18407 yuan / ton, which was higher than that of the previous trading day, which was up to RMB yuan / ton, which was lower than the CCIndex328 price of that day.

As of the 24 th, the total amount of cotton put in has been 340923.56 tons, with a cumulative turnover of 48.18%. The average grade is 3.13, the average length is 27.87, the average weighted price is 18533 yuan / ton, and the turnover price is 328 yuan / 18635 yuan / ton.

(4) the number of cotton warehouse receipts in Zhengshang Merchants: 1109 registered warehouse receipts yesterday, a decrease of 12 copies compared with the previous trading day, with an effective forecast of 13.

(each corresponds to 40 tons of cotton).

Three, the factors behind the market

(1) relevant reports of the US Department of agriculture (USDA) and the International Cotton Advisory Committee (ICAC);

(2) domestic cotton spot and downstream cotton yarn price trend and demand change;

(3)

Industry import and export data

(4) the purchase of new cotton and seed cotton.

(5) purchase and storage of new cotton

Four, market research and operation recommendations

The global oversupply of cotton and China's import of foreign cotton will be restricted by quotas before the end of this year. The US cotton futures will continue to decline. Under this influence, Zheng cotton futures will follow the downward trend, and the domestic cotton prices will have little room to fall after the domestic purchasing and storage.