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Market Situation: Cotton Oil And Cottonseed Meal Prices Fluctuated In The Past Two Weeks, Futures Fluctuated And Fell

2023/10/25 9:41:00 0

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In the last two weeks (October 9-22, 2023) when the market opened after the festival, the futures soybean meal and soybean oil fell first, and then stopped falling, rebounded, and made shock adjustments. The overall decline was dominated. The spot soybean oil and soybean meal were adjusted frequently, and the demand was poor. The fluctuation of cotton oil and cottonseed meal market is difficult to be stable. Downstream procurement is cautious and wait-and-see. It is difficult to comprehensively improve the operating rate. In addition, the supply of cottonseed is limited, and the cost is still high. It is difficult for oil cotton mills to start and make profits, and they maintain a slow running state.

Cottonseed: the supply is too small and the price is still difficult to stabilize

In the last two weeks, futures lint fell step by step, and spot prices continued to fall. A small number of ginning plants in the mainland purchase and process, and there are few transactions in lint cotton. The supply of new cottonseed is limited, and the purchase and sales are small. Both cotton oil and cottonseed meal show a downward trend. In addition, the current import of cottonseed to Hong Kong is large, making it difficult for oil cotton mills to make profits. The manufacturers continue to reduce prices to purchase cottonseed from the mainland. As the seed cotton is not fully listed, the price of cottonseed is still price holding power, and the decline is limited. The purchase and sales are slow, and the turnover is not large. Before a large number of new cottonseeds come into the market, pay close attention to the market trend of downstream cotton by-products, and cottonseed prices are still difficult to stabilize.

Cotton oil: it is difficult to increase the operating rate; oil prices fluctuate and fall

In the last two weeks, domestic soybean oil futures fell first and then rebounded at a low level. The closing price of Y2401 main contract on Friday before the festival was 7972 yuan/ton, down 178 yuan/ton from the closing price on the last trading day of the previous two weekends. Futures soybean oil fluctuated and fell, and the spot price was adjusted accordingly. The mainstream price of first-class soybean oil in coastal areas at the weekend was 8290-8390 yuan/ton, 260-270 yuan/ton lower than the previous weekend. Soybean oil futures and spot prices fell, dragging down the cotton and oil market. The price of cottonseed declined in a weak way, but the cost was still high. It was difficult to improve the operating rate of oil cotton plants. Due to the end of reserve goods, the demand for cottonseed oil was poor, and the market declined in a weak way. With reference to the soybean oil futures and spot market, the cotton oil market will still be further adjusted in the future.

Cotton Meal: Soybean Meal Shakes Back, Meal Price Continues to Fall

In the last two weeks, futures soybean meal fell in shock. The closing price of the main contract of Dalian Plate 2401 on Thursday was 3913 yuan/ton, down 83 yuan/ton from the closing price on Friday of the previous two weeks. Futures fluctuated and fell, while the spot market followed. The weekend price of 43% protein soybean meal in coastal areas was 4320-4380 yuan/ton, 180-260 yuan/ton lower than that of the previous weekend. Soybean meal futures and spot prices fell, which was bad for the cotton meal market. The price of cottonseed fell back from a high level, but the cost of raw materials was still high. Oil cotton mills were difficult to make profits, the operating rate was still difficult to improve, and the cottonseed meal inventory was limited. The manufacturers still had a price mentality. Due to the low cost performance advantage of cottonseed meal and soybean meal, a small amount of cottonseed meal is shipped, further depressing the market of cottonseed meal. With reference to the soybean meal futures and spot market, the cotton meal price will still be further adjusted in the future.

Cotton linter: the price is weak and the market demand is small

In the last two weeks, futures lint entered the decline channel, and the spot market continued to fall, with a small amount of purchase and sales. The cotton linter market was stable and weak, and individual quotations fell. The operating rate of oil cotton plants is general, and the supply of cotton linter is small. Due to the limited procurement of downstream chemical fiber plants and refined cotton plants, the demand is poor, which has dragged down the cotton linter market. Before the centralized listing of new cottonseed, cotton linter was further adjusted according to the demand under the condition of relative price holding.