The Cotton Price Is Mainly Affected By The Change Of Policy Expectation.

At present, the trend of cotton prices leading cotton prices is expected. Before the change of the reserve policy is changed, the effective supply of cotton spot will continue to be insufficient. In addition, some enterprises are hoarding goods, and the price is expected to remain relatively strong.

Since June, the price of zhengmian has dropped and then rose, showing a V trend. Yesterday's intraday price hit a new high.

At the close, the 1701 contract of Zhengxin cotton main force was closed at 13570 yuan / ton, up 370 yuan or 2.8%.

According to the insiders, in recent years, the price trend of Zhengzhou cotton has become stronger due to the comprehensive influence of cotton policy, external market performance, spot prices and market supply and demand.

"Recently,

The price is mainly affected by the change of policy expectation.

Hou Xueling, research and Development Department of Guoxin futures, said that at the beginning of the month, the market rumors that cotton throwing reserves would increase and the domestic cotton inspection would be accelerated. But as time went on, rumors did not confirm that cotton throwing and storage could not meet the spot demand.

More intense, so the price of the repair price increases.

The latest report of the US Commodity Futures Commission (CFTC) showed that as of June 14th, hedge funds and large speculators held 87955 long positions in cotton, 41239 short positions, and net long positions increased to 46716 in five consecutive weeks, reaching a 5 month high.

CITIC futures analyst Wang Yan believes that recently, Zheng Mian

The trend is strong, which is mainly influenced by the internal and external factors.

On the outlying side, cotton prices continued to rise in India, and the price of cotton before the US was 65 cents higher. In the domestic side, the daily cotton reserves remained at 20 thousand tons -3 million tons, and the turnover rate remained high.

Meanwhile, cotton prices in the spot market have been strong since the beginning of this month, and cotton circulation resources are at a relatively low level in history.

Data show that yesterday, China's cotton price index closed at 12686 yuan / ton, up 19 yuan / ton; 2227B level closed at 11745 yuan / ton, up 22 yuan / ton; 2129B level closed at 13005 yuan / ton, up 6 yuan / ton.

At present, the policy of throwing and storing is still the focus of attention in the cotton market.

"At the present stage, cotton reserves will dominate cotton prices.

The specific factors include daily volume and outgoing progress.

Wang Yan said.

On June 13th, in the training meeting of Dezhou's reserve cotton warehousing and public inspection business process, the central storage cotton company made it clear that it was necessary to ensure the output of cotton reserves.

Traders said that if the volume of output increased, Zheng cotton's market will be suppressed.

According to the current situation of textile stocking, it is expected that cotton will be concentrated in August, and there may be another wave of rising prices.

"Entering the middle of June, there is no sign of dumping and storage. At present, the adjustment plan of the Central Cotton store has increased the volume of public inspection. It is expected that the effect will be seen in late June, which has become one of the main pressures on the price trend of Zheng cotton."

Hou Xueling said that at present, the policy is unlikely to have a major adjustment, in June, more than half, only 224 thousand tons of cotton stored in the state, unable to meet the needs of textile enterprises cotton, if the dumping can not be achieved in late June, the market is expected to fail again, and the vulnerable Zhengzheng cotton may rebound again.

For the market outlook, Wang Yan said that at the current stage, the cotton market will be dominated by cotton reserves. If the cotton reserves are kept at the current level, Zheng cotton will remain strong and strong.

Recently, Zheng cotton tested the resistance level above, adding more than 4 into the warehouse, focusing on the breakthrough of resistance level, and suggested short and multiple operations.