Cotton Market Situation: Most Cotton Enterprises And Merchants Are On The Sidelines And Do Not Make External Quotations

The reserve cotton wheel set a floor price of 15475 yuan/ton this week, 63 yuan/ton lower than last week. The turnover rate of reserve cotton also began to decline last week, from 84.76% on Monday to 67.4% on Friday, Reserve cotton The average transaction price also dropped to 14726 yuan/ton, which shows that both textile enterprises and traders have become rational in bidding for reserve cotton, and both textile enterprises and traders are bidding according to their ability and demand.

The price of Zheng Mian has continuously bottomed out, and the enthusiasm of reserve cotton auction has further weakened. The transaction rate is only 58.01%, and the average transaction price is 14747 yuan/ton, 110 yuan/ton higher than the price of the previous day. This morning, as Zheng Mian rose last night, the turnover rate of reserve cotton also rose to 70%. At present, Zheng Mian, reserve cotton auction and spot goods interact, among which the decline of Zheng Mian has a greater impact on market confidence.

In the short term, the biggest pressure on Zheng Mian is the huge amount of continuously increasing warehouse receipts. If downstream enterprises actively accept warehouse receipts, the downward pressure will decrease. However, from the current point of view, Zheng Mian's warehouse receipts continue to increase, while it still takes some time for downstream enterprises to actively receive warehouse receipts, so it is expected that Zheng Mian will still be weak after the rebound. In addition, attention should be paid to systematic risks and the weekly report on American cotton exports released by USDA today. On March 23, some spot cotton in Xinjiang reported an increase of 200 yuan/ton, and the price of "Double 29" hand picked cotton rose to 16400 yuan/ton (settled by the public in the mainland), but most cotton enterprises and merchants were on the sidelines and did not make external quotations.

stay Yangtze river basin In the vast traditional cotton area in northern Jiangsu, Jiangsu Province, due to the impact of waterlogging, wind disasters and other disasters during the cotton growing period in many regions in 2016, and the unstable cotton purchase price, the overall purchase price was higher than that in 2015, but the unit yield of large areas declined, and the overall benefit of farmers' cotton planting did not increase significantly. According to the survey, cotton farmers in the Yangtze River Basin were more optimistic about whether to plant cotton in January and February. It is predicted that cotton planting intention will increase slightly year on year. However, until now Cotton planting intention But it is not optimistic.

The wait-and-see attitude of spot goods has increased again. At present, the quotation is maintained. In Hebei and other places, the delivery price of 3128 grade big bales of cotton is 15700 yuan/ton gross weight, and that of 4128 grade cotton is 15300 yuan/ton. The price of Xinjiang Shuang 28 and 29 grade hand picked cotton in Shandong and other places is 16500-16800 yuan/ton. There are still some concessions in the actual negotiation. Some textile enterprises continue the strategy of "buy as you go" and are relatively keen on high-quality cotton and imported cotton.

Pakistan: Recently, Pakistani textile enterprises still adhere to the principle of buying foreign cotton whenever they use it. Indian cotton costs between 85.50-89.00 cents/pound to Karachi Port. High count yarn textile enterprises also order some Turkmen cotton. Domestically, on the 22nd, the picking price of the new flower ginning plant remained 6800-7150 rupees/Mohnd (79.00-83.00 cents/pound).

India: On March 22, India's S-6 ginning mill quoted 43850 rupees/Kandi (85.45 cents/pound) as the delivery price, and Punjab J-34 quoted 4760 rupees/Mohnd (88.40 cents/pound) as the delivery price; At present, 23000 tons of lint are converted to market in India every day, including 6460 tons in Gujarat and 8500 tons in Maharashtra. It is also understood that textile enterprises in southern India have actively purchased thousands of tons of foreign cotton (West African cotton, American cotton, Australian cotton) in recent days.

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