Early Analysis Of Cotton Futures Market In January 23Rd

< p > < strong > macroscopical focus < /strong > /p >

< p > the Bank of Japan announced the introduction of the "price stabilization target" and "open asset purchase measures".

The central bank reported 2% inflation targets so far. Since 2014, it has purchased about 13 trillion yen daily debt and bills each month, so that the total size of the asset purchase project has increased by about 10 trillion yen, and there is no expiration date.

But it has not given up 0.1% of the overnight rate guidelines.

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< p > following the measure of investor confidence, the German ZEW < a href= "http://www.91se91.com/news/index_cj.asp" > economic < /a > boom index rose sharply from -15.7 to 6.9 in December. In January this year, the results of 272 analysts and investors in the ZEW survey showed that investor confidence continued to rise sharply, reaching a 8 month high.

Germany's ZEW economic climate index in January was 31.5, much higher than expected 12 and last December's 6.9. Germany's January ZEW economic status index 7.1, which is also higher than the expected 6 and the previous value 5.7. < /p >

< p > < strong > Cotton: cotton city is difficult to pick up before the festival, and short line operation is mainly short of high level < /strong > < /p >

< p > the overnight ICE phase cotton is lower and higher, the main contract in March is up 1.38 cents to 79.93 cents / pound. The technical picture shows that the period price keeps good long distance arrangement, and the strong pattern is expected to continue.

Zhengmian 1305 contract closed on Tuesday afternoon, closing at 19505 points, down 25 points from the previous trading day.

The top twenty bulls reduced their positions from 279 to 54837, shorting their positions from 1149 to 65335. In general, the air force still has a slight advantage.

Trading volume declined slightly compared with the previous day, indicating that the trend of rising price kinetic energy weakened, MACD index red column shortening, DIF leveling, technical graphic average line system still maintained good long queue, but KD index in the overbought area dead fork adhesion downward, indicating that there is still callback demand in the future market.

Cotton warehouse receipt information: < a href= "http://www.91se91.com/news/index_c.asp" > cotton < /a > warehouse receipt totaling 375 (of which 44 are Xinjiang cotton), reducing 26 warehouse receipts (including 2 Xinjiang cotton) compared with the previous day.

53 effective forecasts.

Fundamentals: domestic cotton CC Index 328 price index: 19289 (+3), imported cotton FC Index M price index: 88.20 cents / pound (0), 1% tariff 14151 yuan / ton, discount sliding quasi tax to 15132 yuan / ton, and cotton price difference to -4157 yuan / ton.

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"P", the domestic cotton market is not surprising, part of the textile enterprises because the quality of the reserve cotton or the quality of the reserve cotton pat are not satisfactory, so again the eye to the spot "a href=" "http://www.91se91.com/news/index_s.asp" > market < /a > purchase of cotton, but because the market flow resource is little, the purchase of seed cotton has also entered the later period, the textile enterprise procurement is difficult.

From now on, the stocking enthusiasm of the downstream cotton mill is not positive. Many small and medium size mills have closed down for a long time, and the consumption of downstream yarns is also hard to pick up.

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< p > in January 22nd, the number of cotton reserves put into operation was 80178.93 tons, and the actual turnover was 29674.99 tons, with a turnover ratio of 37.01%. The average daily turnover reserve cotton was 4.35, which was 0.12 lower than the average level yesterday. The average length was 28.34, 0.07 lower than yesterday's average length; the weighted paction price was 18423 yuan / ton, and the turnover rate of 328 grade was 19108 yuan / ton (public weight), which was lower than the CC Index 328 price ratio of that day was less than that of 328 yuan / ton.

As of January 22nd, the total amount of the total listing was 478306.68 tons, and the total turnover was 234004.19 tons. The turnover ratio of cotton in the year of 48.92%.2012 was 5832330 tons, and the total turnover in Xinjiang was 2503720 tons. The total turnover in the mainland was 1846110 tons, and the backbone enterprises accumulated 1482500 tons.

Operation suggestion: CF1305 is mainly short for short selling, with a stop loss of 19700 yuan / ton.

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