Zheng Cotton Shock Down Position Near Far Increase

Affected by the external market closing down, local rebound of domestic epidemic situation and other factors, Zheng cotton fell in shock, greatly reduced the position, enlarged the trading volume, and increased the position near and far.

The spot cotton market price has been slightly revised back, and the actual trading situation is still poor. At present, the inventory of finished products of the downstream yarn enterprises is low, and the operation is in good condition. In addition, the government will take policy measures to promote domestic demand in the later stage, and the demand side is expected to be better. In addition, with the expectation of cotton cost promotion in the new year, the industry is still bullish, In addition, the industry's high expectation on the price of new cotton and the strong expectation of rush collection jointly lead to the unanimous recognition of the high cost of new cotton. The strong cost expectation will pull the main contract ahead of time. Moreover, after entering August, the traditional peak season will also come, and the long-term market is still optimistic. However, under the risk aversion mood, it is still necessary to be cautious in high-level price pursuit, and it is suggested to actively replenish the stock on the low side.