The Difference Between North And South Cotton Is Relatively Large And The Domestic Cotton Market Is Stable.

Electronic matching:

In October 23rd, the contract was opened up, with a wide concussion within the day.

Whole country

(19575, -85.00, -0.43%) the trading volume of commodity cotton matching business was 12700 tons, 700 tons less than the previous trading day, 920 tons of orders and 60360 tons of orders.

Two. Futures market

1. ICE: cotton futures fell 3.4% on Tuesday, the largest single day decline in more than two months. Investors have locked in profits or released risky assets after the recent rally, worried about weak spot demand.

Index December cotton contract settlement price fell 3.4%, at 74.27 cents per pound.

2. Zhengzhou: the main contract of Zheng cotton is flat, and the cross hand arrangement is changed. The end of the stock market has been lowered under the pressure of long liquidation and the line has been shrunk.

The CF1301 contract concluded 31022 hands on the day, 5624 on the day, and 181882 at the end of the contract; the CF1305 contract day was 23474 hands, and the day was reduced by 1158, and the final position was 122604 hands.

Wei Qiao offer: three level: 19300 429:18500 (temporary suspension)

CC INDEX328:18700 yuan / ton, up 4 yuan.

Others: the average price of grade 527 cotton to plant is 16411 yuan / ton, up 6 yuan.

On the basic level, the purchase price of seed cotton has been reduced in recent years, and cotton growers are reluctant to sell in some areas. Some cotton ginning mills have cautiously purchased due to poor profit and worry about the quality of seed cotton, and the progress of seed cotton purchase has slowed down.

Demand for cotton by-products is still poor, prices are still downward, seed cotton prices are running smoothly, and cotton price pressure has increased.

Cotton side, cotton oil to fall again, cottonseed meal continues downward.

Four, the macro environment:

As of October 22nd, ICE cotton inventory was 8446 bales.

US stocks fell sharply and investors worried about Spain's debt crisis.

Five, operation recommendations:

Zheng cotton CF1301 contract opened up and slipped off the hatching line. The day before the line was engulfed, the line did not break the 10 day moving average, but the pattern weakened but did not form a trend of breaking. After the decline of the figure, the rebound was blocked by the 10 average moving line, and the market was weakened again. The price adjustment broke down on Friday, and the short term trend weakened. If the market continued to adjust, it could be concerned about the support of the 19600 line.

The CF1305 contract of Zheng cotton fell to the shade line, the daily line rebound was suppressed by the 5 day average line, the final 10 day average was penetrated and the technical face was weakened. The hour chart was restrained by the 10 Line concussion, the end disc penetrated the 60 average support, and the short line reclaimed the early jump gap, and the high point of the early rebound did not form the effective support for the period price, and the short line technology turned to the empty pattern.

Operation suggestion: empty warehouse wait-and-see.

Six. Trend testing:

1305 rise (neutral), wait and see

Operation: buy January empty May, wait and see