Increase In Volume Of Cotton Reserves And Low Participation Of Traders

ICE cotton

Overnight ICE cotton The contract price callback, December contract 75.93 cents / pound, fell 0.62 (0.81%), in August 8th, China officially announced that the reserve cotton sales extended for a month, triggering speculative selling to suppress, ICE futures futures rebounded after a sharp fall in the market, and the contract price was lower in the whole range. The growth rate of cotton released by USAD is not as good as that of the same period in previous years. It is predicted that the ICE cotton will have a strong trend.

As of August 7th, the rate of new flower buds was 96%, an increase of 4 percentage points from the previous week, 95% in the same period last year and an average of 96% in the past five years. The rate of new flower bells was 70%, an increase of 16 percentage points from the previous week, 65% in the same period last year, and 72% in the past five years. The rate of new flower opening was 9%, which was 6% in the same period last year, and the average value in the past five years was 7%. The excellent and good rate of cotton growth was 48%, which was 50% last week, compared with 56% last year.

　 India Market

According to official data from India, the total area of cotton planting in India was 9 million 648 thousand hectares in August 5th, compared with 1 million 56 thousand and 800 hectares in the same period last year, with a reduction of about 9%. In the past week, the area of cotton planting in India increased by 415 thousand hectares, up 550 thousand hectares last week. From Sunday to Monday, the southwest monsoon is active in the northern region, central, and Gujarat and Maharashtra. At present, the average precipitation in Gujarat is 27% less than in previous years. Monday's S-6 pickup price rose 300 rupees / candies compared to Friday, to 48000 rupees / candi, a discount of 91.70 cents / pound. The Punjab J-34 ginning factory picked up 4950 rupees / mod, 90.10 cents / pound.

domestic market

(week August 1st -8 5), one week. Reserve cotton The total volume of delivery was 150 thousand and 200 tons, with a total turnover of 85 thousand and 600 tons, with a turnover rate of 56.99%. Among them, Spin 55 thousand and 700 tons of enterprises accounted for 65%, while non textile enterprises accounted for 29 thousand and 900 tons, accounting for 35%. It is understood that in August, the main cotton producing areas in North and South Xinjiang entered the key period of "late Bolling, increasing weight, preventing premature senescence, preventing long growth and promoting early maturity". At present, the temperature inside the Xinjiang is relatively high, and there is not a large range of high temperature or continuous rainfall. It is estimated that Dryland and premature senescence cotton fields will be picked in mid September and will begin to gather in early October.

　 The volume of cotton reserves increased and traders' participation was low.

On Tuesday, the main contract price of Zheng cotton futures was low, and the main contract was sharply lower. The price of the cotton fell sharply after the fall. After that, the price rebounded slightly. Today, the turnover of zhengmian has been reduced, the positions have been reduced, and the positions have been reduced by 13 thousand. At present, Zheng cotton holds 544 thousand positions. 1609 the contract fell 370 to 141101701, the contract fell 335 to 147101705, and the contract fell 285 to 14645. At present, the warehouse number is 850 (-2), and the effective forecast volume is 951 (+32). As of August 8th, the cumulative turnover of cotton reserves totaled 1 million 730 thousand and 300 tons, the total volume of imported cotton was 296 thousand and 300 tons, and the turnover rate was 98.16%; the total turnover of domestic cotton was 1 million 434 thousand tons, and the turnover rate was 93.67%. In August 9th, the reserve cotton market was 30 thousand tons. The development and Reform Commission formally announced the extension of the reserve cotton liner, which has been weakening in recent two days at home and abroad. But after last week's slump in volume and turnover of cotton reserves, the volume and price of reserve cotton rebounded this week, and the proportion of traders taking part in the auction dropped sharply, indicating that textile enterprises' enthusiasm for purchasing cotton began to recover gradually. Domestic cotton prices are weak, but international cotton prices are relatively strong, especially in India. At present, the price of Zheng cotton is on the key supporting position, and it is concerned whether it has been effectively broken.