Low Cotton Futures Market Is Expected To Rise Later

Last week, in the atmosphere of commodity general decline, Zheng cotton continued to decline, closing at 13020 yuan / ton on Friday, down 225 yuan from the previous week.

On the spot, CCIndex3128B reported 13365 yuan / ton, up 9 yuan from the previous week.

Rumors about dumping and storage are still uncertain. Textile companies are very cautious about replenishment. Later, they need to pay close attention to policy trends and market sentiment.

Customs data released last week showed that in April, 215 thousand and 600 tons of cotton yarn imported from China increased by 18.49% over the same period last year.

Meanwhile, the data released by the cotton information network showed that the stock of cotton yarn in textile enterprises dropped to 14.86 days from 18.73 days in March, and the inventory of grey fabrics dropped from 22.75 days in March to 19.32 days. This shows that there is a revival of recent consumption, which is expected to stimulate the demand for cotton in textile enterprises.

From the perspective of holding positions, there is a sign that the main force is short and empty.

Zheng Mian three thousand passes shut down to stabilize, the market outlook is still expected to rise, but need to be on guard at all times.

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Last week, cotton fell for five days. The US dollar ICE7 month contract closed at 63.3 cents on Friday, a 5% decline in the week.

Last week, the 5 largest trading day fell on Monday, while the US dollar index rose 1.17%, leading to a 2.9% drop in cotton futures.

Subsequently, the US dollar index continued to strengthen.

Although there has been a decline, the decline has slowed down.

On Thursday, the US Department of Agriculture reported that the week ended May 14th.

The signing of this year's export of 13 thousand and 400 tons of upland cotton has increased by 22% compared with the previous week. When the weekly shipment volume reached 82 thousand and 100 tons, the annual cumulative shipment volume reached 1 million 884 thousand and 200 tons, and the USDA predicted 80.87% tons of 2 million 330 thousand tons of export volume.

In addition, India still insists on not lowering the price and storing up, and the price behavior has brought support to the American cotton.

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