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New Cotton Purchase Price Rise, Futures Fell Continuously

2013/10/25 14:26:00 35

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New Cotton Acquisition Price Rise Futures Continuous Decline

new cotton purchase price moderate rise 
 today, Zheng cotton's main contract remains low after its overall opening. The CF1401 contract opened at 19840 yuan / ton, closing at 19860 yuan / ton, down 40 yuan / ton, or 0.25%, holding up the volume and increasing the turnover. In May, the contract opened at 18650 yuan / ton, closing at 18610 yuan / ton, down 105 yuan / ton, down 0.56%. On the external side, the most active December cotton contract in October 23rd fell 1.76 cents, or 2%, at 80.69 cents per pound, or fourth days in ICE. 
 from the spot market, the new cotton harvest is in sight, and the purchasing price is rising moderately. In 2013, the cotton fields across the country encountered varying degrees of bad weather such as low temperature, drought, flood and rain. Under the condition of 4.4% decrease in planting area, the total cotton production capacity reached 6 million 860 thousand tons, a slight increase compared with the previous year, of which Xinjiang's cotton output accounted for more than 50% of the total output of the country. In the support market of the national cotton temporary purchase and storage policy, the purchase price of new cotton has steadily increased. Since the new cotton market came into operation in September, the average purchase price of cotton seed in the whole country increased by 8.2 yuan / kg, up 2.7% over the same period last year, of which the purchase price of cotton in Xinjiang reached 9.3 yuan / kg. 
 with the acceleration of the acquisition process, cotton farmers are reluctant to sell. The price of early Cotton Traders' purchase is over 4.30 yuan / Jin, and local cotton enterprises reflect that the acquisition of this price is small and the processing profit is thin, so the purchase progress is slowed down. In the Hubei producing area, the cotton enterprises' enthusiasm for seed cotton purchase is not high at present. The local market is not salable, and the medium and large a target= "_blank" href= "http://www.91se91.com/" > textile > /a > factories almost use imported cotton or national cotton. 
 international cotton price is also rising gradually, but the difference between inside and outside is still larger. National cotton industry technology system industrial economy research room Du min 
 indicates that the average price of domestic grade 328 lint is 19133 yuan / ton in 2012/2013, and the average price of the international cotton price Cotloo-kA index is 88.7 cents / pound. According to the tariff of 1% and 5%, the CIF value is 14232.9 yuan / ton and 14725.3 yuan / ton respectively, and the average annual difference between home and abroad is 4900 yuan and 4408 yuan respectively. 
 inventory pressure suppressed cotton price after 
 < a > href= > http://www.91se91.com/ > > cotton > /a > Du Min, the Industrial Economic Research Institute of industrial technology system, told reporters that due to the relatively stable supply, the domestic cotton consumption market was flat and weak, and the stock pressure continued to expand. 
 2012/2013, the national spinning volume of 35 million 50 thousand tons, an increase of 10.8% over the same period, but 1 percentage points lower than the same period last year. In 2013 1~9, the total spinning volume of the country was 25 million 766 thousand tons, an increase of 7.5% over the same period last year, down 5.7% from the same period last year. In 2011, since the state started the temporary cotton purchase and storage policy, it has accumulated more than 970 tons of cotton, and has imported 9 million 836 thousand tons of cotton in the same period. At present, the total amount of cotton stored in the state market has reached 4 million 500 thousand tons, with a turnover of 3 million 710 thousand tons actually. In 2013, the state continued to implement the policy of temporary storage and storage of cotton, and the enthusiasm of enterprises to store reserves remained undiminished, and the pressure on stocks continued to increase. 
 cotton and cotton production is also expected to have a negative impact on cotton prices. According to the US spot market report, in recent years, except for good weather in Alabama, Georgia and St. John's Valley in the western region, the main cotton producing areas in the United States, North Carolina coast and Virginia and other places have been raining, and field work has been affected, and the harvest schedule of new cotton has been postponed. But this does not affect investors' expectations of this year's high yield of US cotton. As of October 21st, the cotton growth data showed that the new cotton grew well and formed a certain pressure on the cotton market. 
 MEIKO futures analyst Liu Yi said that the import of Chinese cotton yarn increased by 46.01% in September 2013 compared with the same period last year. The import status of textile raw materials in cotton and cotton yarns has been very obvious. Cotton has national storage control, but the speculative elements of cotton yarn industry are too high, and the risk is gradually accumulating. 
--EndFragment--!
 futures main contract downward pressure > /strong > 
 "before the implementation of China's dumping policy, textile mills will not rush to place long-term contracts, so it is difficult to stimulate a significant increase in port cotton prices. And domestic cotton spot prices are also not supported by long-term favorable factors. The progress of purchasing and storage is slow, volume is low, storage and profit is low, the total annual storage capacity may be reduced, which brings pressure to the futures market and the matching market. At present, the cotton futures market is powerful. Roman Tam, founder of futures, thinks. 
 MEIKO futures analyst Liu Yi also believes that the end of the new year global inventory will be a record high and cotton price trend is not optimistic. At the beginning of the year, China's acquisition and storage is a stabilizer, so the stage is stable or slightly upward, but the scope is limited. 
 < < a href= > http://www.91se91.com/ > ZHENG cotton < /a > operation, Huatai the Great Wall futures believe that today CF1401 dropped 60 yuan to close at 19860, CF1405 dropped 100 yuan to close 18685. Zheng cotton warehouse effective forecast continued to increase to 136, if the warehouse receipt pressure is formed, Zheng cotton will be hit by selling. Therefore, we should not be too optimistic about the price of the CF1401 contract during the storage period. We suggest that investors keep a wait-and-see view of the January contract. For the CF1405 contract, under the expectation of low price dumping and direct subsidy, the price will be under a downward pressure. Investors are advised to sell the May contract at a high price. 
 "in the next two years, the pace of global economic recovery is slow, and the situation of cotton demand warming is still uncertain. Domestic economic growth is slowing down, and the RMB exchange rate continues to rise. Under the temporary cotton purchase and storage policy, raw material prices are running at a high level, and cotton consumption is hard to fundamentally improve in the near future. The task of balancing domestic cotton supply and demand is arduous. " Du min, a research office of the Industrial Economy Research Institute of the national cotton industry technology system, suggests that the relevant cotton related departments of the state should study and formulate cotton support and regulation policies as soon as possible in order to ensure the healthy and sustainable development of the cotton industry. 
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