New Cotton Fell More Than &Nbsp, And Zheng Cotton Weighed Heavily.

New York cotton Futures on Thursday (March 1st) fell for second consecutive days, and the ICE index fell 0.77 cents in May, at 89.67 cents per pound, with a range of 89.46-91.49 cents in intraday trading. .

The US Department of agriculture (USDA) weekly export sales report showed that US highland cotton export sales dropped by 57% from the previous week to 76200 bales. This news hit the market sentiment, and the May contract failed to break through the 93 and 94 US dollar resistance area, which also triggered a new round of investors clearing their positions. In the next few weeks, the market will remain global stock market, gold, crude oil Look for guidelines in grain market performance.

India Cotton Association published a report that the cotton planting area in 2012 will be reduced by 10%. In 2011, cotton prices dropped sharply, resulting in cotton farmers' willingness to plant cotton. The US Department of agriculture (USDA) report also lowered the cotton planting area of several major cotton growing countries in the world and estimated that cotton production in 2012/13 would be reduced. On the other hand, consumption has not recovered significantly for the time being, and cotton market is still dominated by oversupply.

On the domestic side, on 1 th, the relevant state departments issued the "cotton temporary storage and purchase plan for 2012", and determined that the price of temporary cotton storage and purchase in 2012 was 20400 yuan / ton, which was 600 yuan / ton higher than that in 2011, and the increase rate was 3%. The increase is lower than the market expectation, or will boost cotton market in the short term. But in the long run, because of the larger price difference between inside and outside cotton, the downstream textile enterprises will not be able to sustain high cotton prices. Later quota policy will have a significant impact on cotton market.

downstream Spin The Spring Festival has been selling slowly and with fewer orders, showing signs of bad season. 1, the market is concerned about whether the consumption will be more obvious after the traditional peak season in March. The price of downstream gauze products is weak, and the cotton knitted yarn 32S is reported at 26400 yuan / ton, and the production profit is low, and the demand for cotton is suppressed.

On the 1 day, Zheng cotton rushed down, looking at the trend of the disk and changes in its positions. capital The obvious signs of profit making, and the continued decline in the external market, is still a major drag on Zheng cotton's uplink.