Reserve Cotton Market Turnover Rate Fell Again Cotton Business Wait-And-See Mentality Strong

ICE cotton

Overnight ICE cotton The price of the contract rose sharply, with a 74.3 cent / pound increase of 0.38 (0.51%) in December. In August 3rd, ICE futures continued to narrow, and the external market as a whole rose to provide support for cotton prices. After the December contract went down, the price rose slightly, and the contract price rose slightly in the short term. market The possibility of high concussion is great. Pay close attention to the US cotton export weekly and the recent cotton weather in the United States.

India Market

From Tuesday to Wednesday, the southwest monsoon is active in northern India. Local media reported that the area of cotton planting in the north had dropped significantly, of which 520 thousand hectares were planted in Harean state, 615 thousand hectares last year, 260 thousand hectares in Punjab, 398 thousand hectares last year, and 206 thousand hectares in Rajasthan, 448 thousand hectares last year. But cotton planting is still continuing in Rajasthan. The gap between the final cotton planting area and last year's planting area is expected to shrink this year. At present, Maharashtra has accumulated more than 14% long-term rainfall and cotton planting area is flat compared with last year. Gujarat is drier than in previous years, and the final planting area may be reduced by 10% compared with last year. Ande Labon's low-lying fields have been waterlogged. India is expected to end its cotton planting in the next two weeks. The final cotton planting area this year will probably be reduced by 5% compared with that of last year.

On Wednesday, the price of S-6 ginning factory kept stable for third consecutive days, which was 90 cents / pound in 47250 rupees / candi, and 4810 rupee / Mulde in Punjab J-34 ginning factory, 87.30 cents / pound. On Tuesday MCX cotton rose and fell.

Domestic market

August 4th Reserve cotton 30041.327 tons of resources were delivered, and the actual turnover was 6823.798 tons, with a turnover rate of 22.71%. The average price was 13676 yuan / ton (the average price was 13743 yuan / ton the previous day). The highest price is 14260 yuan / ton, and the lowest price is 12840 yuan / ton. According to statistics, as of August 4th, the cumulative turnover of cotton reserves totaled 1694998 tons, and the total volume of imported cotton was 296306 tons, with a turnover rate of 98.16%. Total domestic cotton turnover: 1398691 tons, turnover rate: 95.09%.

Reserve cotton turnover rate fell again, business wait-and-see mentality strong.

Zheng cotton futures contract opened lower on Thursday after the shock increased, the intraday bottom of the market, the price rose sharply, at present, Zheng cotton holds 565 thousand hands. 1609 the contract fell 205 to 141251701, the contract fell 220 to 145001705, and the contract fell 220 to 14440. At present, the warehouse number is 982 (-20), and the effective forecast volume is 843 (0). As of August 3rd, the cumulative turnover of cotton reserves totaled 1 million 688 thousand tons, the total volume of imported cotton was 296 thousand and 300 tons, and the turnover rate was 98.16%; the total turnover of domestic cotton was 1 million 391 thousand and 900 tons, and the turnover rate was 96.6%. In August 4th, the reserve cotton market was 30 thousand tons. Since the NDRC decided that the rotation time of cotton reserves would be extended for one month, the turnover rate of cotton reserves dropped continuously. The turnover rate of cotton reserves yesterday was only 47.29%. The turnover rate was lower today, only 22.7%. On the one hand, due to the anticipation of falling cotton prices, traders' participation is dropping. On the other hand, textile enterprises consider cotton reserves to end by the end of September. There will be no shortage of supply in cotton supply and new flower listing. The price of the spot market gradually loosened and traders' cotton reserves flowed out. Compared with the domestic cotton market, the price of international cotton is still strong, and the price of ICE cotton is strong, which will form a certain support for domestic cotton prices. In the short term, the cold auction of the cotton reserve has a certain pressure on the market, but the market is worried that the development and Reform Commission will no longer postpone the market after the fall in volume, and the market will flow out of various policy versions. It is suggested that we should pay more attention to the trend of the policy, pay attention to the weekly weekly report of the US cotton export, and cautiously pursue the short term operation.