Cotton Spot Price Down ICE Futures Ended Four Day Rally

Cotton spot price down ICE futures ended four day Rally

The domestic market: on Tuesday, the main contract of zhengmian increased its position, reduced its price, or lowered its price at 12840. It was -0.19% compared with the previous trading day, the highest price was 12935, the lowest was 12805, the turnover was 238388, the position was 487794, +9544, and CF9-1, the difference was 510, -5.

External trend: ICE cotton futures fell more than 1% on Monday, ending the four day rally, the most active ICE12 month cotton contract fell 0.89 cents, the settlement price was 59.24 cents per pound, and the trading range was between 59.19-59.25 cents.

News: 1. According to the Association survey, according to the weighted average calculation of cotton planting area of cotton farmers surveyed, it is estimated that the total output of cotton in China will be 6 million 40 thousand tons, down 1.22% from the same period last year, a decrease of 20 thousand tons compared with the previous period and a 0.5 percentage point decline. 2. In August 20th, the sale of the cotton reserves was 11131.1083 tons, and the actual turnover was 10462.6953 tons, with a turnover rate of 94%. The average transaction price was 11967 yuan / ton, up 51 yuan / ton compared with the previous trading day.

On the spot side: the cotton index 3128B price is 13558, down 13 from the previous day's spot price; the cotton yarn price index C32S price is 21350, which is 10 lower than the previous day's spot price. (unit: yuan / ton)

Warehouse Receipt Inventory: 12197 warehouse receipts, -102, warehouse receipt inventory reduction.

Position analysis: on the day of the Zheng cotton contract, there were 20 long positions in 242251 hands, +1305; short positions were 287395 hands, -321; clear positions occupied an advantage.

Conclusion: ICE cotton futures fell more than 1% on Monday, ending the four day rally, because India cotton imports will be taxed. Domestic cotton Market: spot seed cotton prices are stable, approaching new cotton listing, most cotton mill purchase price is not as good as cotton farmers' psychological expectations. In terms of inventory, the inventory of industrial and commercial enterprises is still about 3 million 900 thousand tons, and in the process of carrying out the cotton spinning, the textile enterprises are buying and selling with the purchase, and the state-owned cotton stores with high cost performance are in the market. The turnover rate of the national cotton storage is over 9, and the phase is better than the cotton price. Downstream demand is still poor, but the recent Autumn and winter orders to factories, yarn demand increases, cotton enterprises to speed up or speed up. Technically, the CF2001 contract short line system is in horizontal consolidation, KDJ index slightly improved, short term or stable. On the operation, it is suggested that the 2001 contract of Zhengzheng cotton can be sold at 12600-13000 intervals.