Several Major Institutions Today -- Cotton Futures

[Hongyuan futures] India cotton no longer banned exports this year

Main points

1. Price Bulletin: domestic lint: 129 level 20657 yuan / ton; 229 level 19787 yuan / ton; 328 level 18955 yuan / ton; 428 grade 18263 yuan / ton.

domestic

Product: polyester staple fiber 10370 yuan / ton; viscose staple fiber 14390 yuan / ton; C32S price 25750 yuan / ton.

2. domestic spot: 28, the domestic cotton spot market prices continue to strengthen, while the international cotton prices are relatively stable, the internal and external spreads are still the driving force to attract SMEs to buy cotton, while some textile enterprises are still eagerly looking forward to adequate cotton resources. Before the country starts a new round of dumping, the focus of the market will remain cotton.

3. cotton imports: on the 28 day, except for India cotton quotations reduced by 0.5 cents, the quotations of other cotton producers in China's ports remain stable.

At present, the textile factory quotes more about the cotton price at the moment, and the inquiry is active.

Since India cotton no longer banned exports this year, sales pressure has increased and prices have dropped.

4. the purchase and storage of new cotton: as of November 27th, the total annual turnover of cotton temporary storage and storage in 2012 was 3306240 tons, of which 2832400 tons were listed on the list (1010080 tons in the mainland and 1822320 tons in Xinjiang).

5.ICE cotton: in November 28th, ICE cotton was low and low, but the rise in the late stage successfully reversed the downtrend, and the contract rose 11 points in March.

Because the United States is optimistic about the prospect of financial cliff negotiations, the US stock market and most commodities have been turned over at the end of the month.

In recent days, the volume of ICE cotton has been declining, the enthusiasm for market participation is insufficient, and the fundamentals have not changed much. Cotton prices have continued to consolidate.

Summary:

Because India cotton no longer banned exports this year, the pressure of imported cotton sales increased, and prices also fell.

For Zheng cotton in May, the demand for the market after the storage period is still weak, and when the price of Zhengzhou cotton is higher than the social circulation cotton price, the cotton buying enterprise has no power to choose the futures purchase channel, which determines the futures price has lost the buying power from the spot enterprises, and the driving force is insufficient.

Operation, January contract should pay full attention to the policy of purchasing and storage, focusing on the idea of doing more bargain.

But we should focus on the former high pressure, flexible operation of the contract in May, and pay attention to the support below 19000 yuan / ton.

[MEIKO futures] issued under the quota is expected to strong cotton prices encounter resistance

Overnight, on the 28 day, ICE cotton went down and down, but the rise in the late stage successfully reversed the downtrend, and the March contract closed up 11 points.

Because the United States is optimistic about the prospect of financial cliff negotiations, the US stock market and most commodities have been turned over at the end of the month.

In recent days, the volume of ICE cotton has been declining, the enthusiasm for market participation is insufficient, and the fundamentals have not changed much. Cotton prices have continued to consolidate.

At present, investors wait for USDA US cotton export weekly to verify the downstream demand.

Industry news, according to official data of Thailand, Thailand's exports of cotton yarn to China amounted to 181 million 500 thousand baht in October this year, up 59.1% from the same period last year, accounting for 49% of the total exports of that month, while the increase in exports to other regions was only 8.4%.

In 1-10 months of this year, Thailand has exported 1 billion 430 million baht to China's cotton yarn, which has exceeded the total export volume to China in 2011, and has increased for fourth consecutive years.

In the international market, on the 28 day, except for India cotton quotations cut by 0.5 cents, the quotations of other cotton producers in China's ports remained stable.

At present, the textile factory quotes more about the cotton price at the moment, and the inquiry is active.

Since India cotton no longer banned exports this year, sales pressure has increased and prices have dropped.

Overall, under the support of downstream demand, there is no room for further decline in cotton prices.

Domestic market, 28 days, domestic

The spot market price continues to strengthen, while the international cotton price is relatively stable, the internal and external spreads are still the driving force to attract small and medium-sized enterprises to buy cotton, while some textile enterprises are still looking forward to adequate cotton resources. Before the country starts a new round of dumping, the focus of the market will still be the outer cotton, but it is difficult for the textile enterprises to purchase large quantities of funds in the light of the capital problem.

State Reserve dynamics, 28 days of national cotton temporary storage and storage of 47980 tons, as of the same day, the cumulative turnover of 3354220 tons, the total turnover of 2880380 tons (mainland paction 1034860 tons, 1845520 tons in Xinjiang), the backbone of the company's major contracts totaled 473840 tons.

Spot quotation, November 28th, the US C/A cotton 88.60 (cents / pound), discount general trade port delivery price 14982 yuan / ton (calculated by sliding tax); Australia cotton 93.60, discount general trade port delivery price 15617 yuan / ton; Uzbekistan cotton 91.60, discount general trade port delivery price 15359 yuan / ton; West Africa cotton 84.60, discount general trade port delivery price 14499 yuan / ton; India cotton 83.60, discount general trade port delivery price 14382 yuan / ton.

CNCotton A 19787 yuan / ton, up 13 yuan; B refers to CNCotton B 18955 yuan, up 23 yuan.

Market analysis, the supply of lint spot market has further shrunk, coupled with the increase in enquiry volume of textile enterprises, the quotation has been slightly upward trend, indirectly boosting the matching market.

However, sales of downstream yarns are still weak, and cotton prices will also gradually encounter resistance when the quota of foreign cotton quotas is expected to rise.

Zheng disk in recent months to buy and store to boost, integer pressure; 05 contract continued weak support 18950.

On the operation, 05 empty bills will continue to hold and support 18950, and the arbitrage of long term arbitrage can still be held.

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[German futures] cowhide Zheng cotton weak shock

CF1305 opened low on Wednesday, and CF1305 closed more than 3 million hands.

CF1305 closed at 19135 yuan / ton, down 75 yuan / ton, increased 764 positions; in November 28th, China's imported cotton (FC Index M) 83.89 cents / pound, fell 0.13 cents / pound, 1% yuan tariff reduced price 13504 yuan / ton, sliding price conversion price 14465 yuan / ton.

According to New York's November 28th news, ICE cotton futures closed at a week high on Wednesday, following the decline in the strength of other commodities due to the US dollar, and the market was concerned about the weekly export sales report of the US Department of agriculture (USDA).

The Intercontinental Exchange ICE March cotton futures rose 0.15% or 0.11 cents to 72.63 cents per pound.

In November 28th, the cotton trading market in the national cotton trading market reached 10980 tons, an increase of 680 tons over the previous paction, an order reduction of 140 tons and a total purchase of 39100 tons.

On the basic side, the recent news has entered a relatively calm stage. The textile sales and the consumption downturn caused by the global economic recession have not improved.

The market pays close attention to a domestic policy issue on how to meet the consumption of textile enterprises in the later stage.

Zheng cotton weak callback on Wednesday, although the bottom of the recent rise, but the technical indicators are stuck, the direction is not clear, Zheng cotton is affected by the policy, the future shock interval becomes narrower and narrower, and it is not recommended to operate.

Today's operation recommends, wait and see, CF1305 reference price range is 19000-19300.

[Wanda futures] macro face positive support for us cotton to maintain a rebound pattern

As China's cotton prices in major consumer countries are sluggish, overnight ICE cotton has remained weak. The main contract in March was at a minimum of 71.65 cents / pound, but Bernar, the speaker of the US House of Representatives, is optimistic that the Republican Party may reach an agreement with the White House to avoid the financial crisis, which will enhance the overall financial market. ICE cotton will rebound and rise 0.11 cents to 72.63 cents / pound throughout the day.

However, in recent years, the overall market sentiment is low, and funds and commercial buying are hard to be stimulated. There is no support for Fundamentals and funds. Prudently rising prices should be appropriate, focusing on the 70-74 cents / pound crosses area.

Tuesday ICE cotton Xiao Yang reported, the main force in March contract stable short term average line, short-term average line turn up, KD and MACD indicators in weak areas continue to rise in a row, MACD index red column growth, rebound trend unchanged, March contract is expected to challenge 74 cents / pound pressure level.

As of 28, China's acquisition and storage had reached 3 million 355 thousand tons, although domestic cotton supply was tight, but Zheng cotton prices were higher than domestic cotton prices. Zheng cotton was unable to attract consumption and trade buying intervention, and the long and medium term contracts remained weak.

As Zheng cotton's recent contracts remain strong, a passive position begins to organize the registered warehouse receipts. Recently, the forecast of Zheng cotton warehouse receipt began to increase. If this trend continues, the closing of the contract in the near future will fail completely, and the long position will pose a pressure on cotton prices.

On the other hand, there is no improvement in domestic exports and consumption since the close of the year. Enterprises will be in the early stages of the Spring Festival and postponed the start of the Spring Festival.

Market sentiment.

In the absence of capital and basic support, Zheng cotton will remain weak and continue to hold 1305 empty contracts, which is expected to challenge 19000 yuan / ton supporting position.