ICE Cotton Continued To Decline, Domestic Cotton Spot Prices Fell Slightly

During the week, sixteenth weeks for the reserve cotton wheel, ICE cotton continued to decline during the week, and the spot price continued to decline. The market sentiment was strong, and the total turnover rate of the cotton reserve dropped to about 60%. A total of 2 million 319 thousand and 500 tons of accumulative cotton production plan was issued, and a total of 1 million 598 thousand and 700 tons were sold out of the warehouse. The turnover rate was 68.93%. The average price was 14976 yuan / ton, the 3128 price was 15996 yuan / ton, the highest price was 16780 yuan / ton, and the lowest price was 12810 yuan / ton. Because Psf The stock is too large, and the pressure of enterprises going to inventory is large, which brings financial pressure to polyester cotton enterprises.

Because of the excellent crop growth rate in the United States, the United States, the world's main cotton producer, is expected to increase its production by 2017/2018 in the year of 12%. At the same time, the cotton planting in India has a strong start. The ICE cotton fell for 10 consecutive days and fell to its lowest level since the middle of 2016. The global cotton market is under pressure. In 2017, the national cotton sowing area was 47 million 573 thousand mu, an increase of 8.5%. The downstream cotton yarn market showed a steady trend. During the week, the cotton futures in the ICE period were greatly reduced by the US cotton production. Meanwhile, the domestic cotton sowing area increased by 8.5%.

The downstream cotton yarn market is relatively stable, and has a certain support for falling cotton prices. Generally speaking, foreign countries cotton Domestic cotton production area is also expected to increase. The supply side of cotton has a huge space for speculation. But from the perspective of domestic cotton supply, the current situation of new cotton supply less than domestic consumption will continue for several years. Whether the national cotton reserves and limited import quotas can complement the market gap remains to be seen. Cotton is expected to continue to weaken next week, the average price of the market is between 15920-16960 yuan / ton.

Anhui, Yangtze River Basin, Hubei The weather in other places is mainly sunny, which is beneficial to the growth of cotton. At present, all cotton is buds and few flowers are blooming. In the southern Xinjiang, the weather was clear and high temperature, and the cotton plants in each cotton region grew rapidly. The height of the early sowing cotton plants was 50-60 centimeters, and the individual plants reached 70 cm, and 6-8 branches per fruit branch. Northern Xinjiang cotton is also growing gratifying. When the cotton yarn market was weak in the week, local prices declined, and some enterprises had fewer orders. The sales of high count yarn in JL area is the weakest, and medium and low count yarn is acceptable.

When the US cotton production is expected to increase, the price of ICE will continue to fall, and the main 12 contract will create a new low price in 2016. Compared with the ICE's drop and fall, Zheng Mian's performance is acceptable, though affected by it, it has also fallen below the 15000 yuan / ton mark, but soon rebounded to the above price. At present, zhengmian 1709 contract still continues the trend of regional shocks. In the short term, the possibility of unilateral market is unlikely, and the two sides are still in a stalemate. We should pay attention to the change of the quantity of cotton warehouse list, the number of positions held and the number of cotton reserves coming out. This may affect the future trend of the main contract of zhengmian 1709, which deserves our attention.

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