The Spot Price Of Cotton Yarn Fell Slightly, And The Purchase Price Of Xinjiang Cotton Also Fell

The weekly settlement price of the main contract of cotton futures this week was 14010, with a weekly increase or decrease of 0.68%; The closing price of spot index 3128B was 15279 yuan/ton, up or down by - 0.02% compared with last week;

The main contract of cotton yarn futures closed at 19900, up or down 0.91% weekly. Xinjiang cotton 21/31 level double 29 low hybrid corresponding to the main contract price difference of 800-1000 yuan/ton in Xinjiang and 900-1200 yuan/ton in the mainland.

The cotton purchase in Xinjiang in 2024 is drawing to a close. According to the survey of the Cotton Farmers' Branch of China Cotton Association, the cotton planting area in China this year is 43.123 million mu, up 3.3% year on year. Among them, the cotton planting area in Xinjiang was 38.703 million mu, up 3.9% year on year. It is estimated that the total output of lint in China is about 6.355 million tons, up 8.1% year on year. According to the survey of China Cotton Information Network, the total cost of cotton planting in Xinjiang this year increased slightly compared with that of last year. Among them, the cost of machine picked cotton planting in Xinjiang is generally about 2750-3600 yuan/mu, and the cost of hand picked cotton planting is generally about 3410-3960 yuan/mu.

The sale of seed cotton in Xinjiang is coming to an end, and the sale period of seed cotton in various regions is relatively concentrated. With the decrease of machine picking cotton, the number of ginning plants that stop harvesting increases, and the purchase volume in Xinjiang declines significantly. At present, there are only sporadic purchases in some regions, and the number of purchases declines sharply from the peak period, and the purchase price also falls back.

The average purchase price of machine picked cotton dropped to 6.21 yuan/kg, and that of hand picked cotton dropped to 6.80 yuan/kg. A small number of spot transactions, cotton yarn spot prices have declined slightly.

In late November, textile enterprises reported that the market was more light, the finished product inventory continued to increase, the yarn price fell under pressure, and the overall decline exceeded that of cotton. The number of mainland enterprises returning to loss gradually increased. With the increase of enterprise inventory or deficit carrying production, there is an increasing trend of enterprises that have slightly reduced production and limited production in the recent period. At present, the operating rate of cotton mills in various regions remains stable.