Home >

East Asian Futures: Zheng Cotton Goes Higher And Lower, And Continues To Oscillate At A High Level.

2010/11/11 11:21:00 21

10 days

Zheng cotton

1105, the contract will go higher and lower.

It opened at 33520, the highest 33720, the lowest 32650, closing at 32835, down 15 points from the previous trading day (-0.05%).

The cotton index increased by more than 40 thousand hands, with turnover exceeding 1 million 400 thousand.

On the international side, the ICE cotton futures continued trading on Tuesday.

The index rose 5 cents in December, triggering a daily limit of $1.5123 a pound, and a low intraday low of $1.4727. According to the rules of the exchange, the maximum limit on Wednesday's single day will rise to 6 cents.

Internationally, the US Department of agriculture has released the latest global cotton production forecast. In the latest prediction, the US Department of agriculture has cut the world's cotton production by 1 million 430 thousand packs, because of the US and China's production reduction, the end of the global cotton inventory has been lowered, and the inventory has been reduced from 46 million 690 thousand packages to 43 million 650 thousand packages at the end of 2009/10, and the end of 2010/11 inventory has been reduced from 44 million 660 thousand packages to 42 million 200 thousand packages.

At the same time, it lowered the 2010/11 year.

American cotton

Output and domestic cotton consumption increased the export volume.

With this support, cotton is closed again.

In the spot market, in November 9th, China's cotton price index (328) was 29886 yuan / ton, up 995 yuan / ton.

In November 9th, the import cotton price index (FCIndex S) was 172.35 cents / pound, up 3.9 cents / pound; 1% tariff 29148 yuan / ton, up 655 yuan / ton; discount sliding duty 29506 yuan / ton, up 649 yuan / ton.

According to the latest report from the US Department of agriculture, China's cotton futures inventory dropped from 18 million 250 thousand last month to 15 million 250 thousand packages in 2009/10, with a reduction of 3 million packages (16.44%).

In 2010/11, China's output continued to decline to 30 million bales, while imports increased by 2 million packs.

Final inventory was also cut by 10.19% to 13 million 220 thousand bales.

Therefore, at present, domestic cotton stocks are very scarce at present, and new cotton exists.

Reluctant sale

。

Despite the short-term risk of policy regulation, cotton prices will remain high.

Judging from the trend of the disk, cotton prices continue to open today under the influence of the external trading limit. The opening trend is in a narrow range, and then there is a rebound at noon closing, and then rebounded. At present, cotton prices have been at a high level, the risk of policy regulation is increasing, and high volatility will inevitably be inevitable, but cotton is still in the rising trend.