Cotton Prices Are Facing Downward Pressure, The Overall Trend Is Weak.

Yesterday, China's cotton price index 3128B cotton newspaper rose 12997 points, rose 6 points, the spot index continued to rise slightly, the the Yellow River Valley picking basically ended, textile enterprises favored the Xinjiang cotton in the procurement choice, which also made the mainland cotton enterprises purchase processing enthusiasm is not high.

ICE cotton futures rose slightly on Thursday. The most active December contract rose 0.01 cents, closing at 61.95 cents. The US Department of agriculture's sales report released on Thursday showed that the week ended October 29th, the US 2015/16 year.

Net sales of 147200 packages, a 94% increase over the previous week, increased by 32% compared with the previous four weeks, and the shipment of 164300 packages was the highest level in the market. Although sales to mainland China were small, the overall sales volume was strong, which had a strong support for cotton prices, offset the impact of the decline of most of the commodities on the periphery, but this is only temporary stability, and upward resistance is greater. The main cotton producing countries in India, China and

During the harvest period, the short-term supply is increasing, while the future demand is not good enough, and the market is still facing downward pressure.

ICE cotton price low adjustment, the trend is weak, short-term will remain biased adjustment market.

The 1605 month contract of Zheng cotton futures went down at a low price on Thursday. It closed down 85 yuan and closed at 11685 yuan, closing about 124 thousand hands and holding about 330 thousand hands.

On the spot, China's cotton price index 3128B cotton index rose 12997 points yesterday, rising 6 points. The spot index continued to rise slightly, and the the Yellow River Valley picking was almost over.

The difficulty is that compared with Xinjiang cotton, which is pported to the mainland, there is no price advantage in the mainland cotton industry. The textile enterprises are keen on Xinjiang cotton in the procurement choice, which also makes the cotton enterprises in the mainland have no enthusiasm to purchase processing products.

At the end of the traditional peak season, the order of textile enterprises is insufficient, production is also produced according to single production, sales are in a predicament, and demand for raw materials is flat.

Although the horizontal adjustment of Zhengzhou cotton futures is at a low level, it still faces greater downward pressure.