The Main Supply Of Cotton Market Is Gradually Shifting To New Cotton.

According to the national cotton market monitoring system, the survey data of 1837 households in 87 counties and 14 provinces in Xinjiang showed that as of November 4th, the national cotton picking rate was 80.3%, down 4.6 percentage points compared with the same period last year, which was 4.8 percentage points lower than that in the past four years, of which, the picking rate was 79%; the selling rate in the whole country was 77.6%, down by 0.4 percentage points compared with the same period in the past year, which was more than the average in the past four years, and the progress of Xinjiang's sale was 77.6%.

New cotton picking progress is relatively slow, and the sale is basically stable.

Downstream textile enterprises

Inventory consumption, demand for replenishment, market turnover improved, lint price stabilized.

The price of the downstream cotton yarn also showed a slight rebound. According to the price monitoring of the business community, as of November 4th, the average price of the 21S cotton yarn with high quality knitted yarn was 22612.50 yuan / ton, up 0.39% from the beginning of the week.

With the end of the "golden nine silver ten" peak season for weaving, fabrics, clothing and foreign trade enterprises, the downstream enterprises are more cautious about big orders, long delivery orders and no profit orders.

Domestic spot market 3128B lint price is 15300-15470 yuan / ton, the average price is 15390.43 yuan / ton, 0.23% higher than the beginning of the week, cotton price runs smoothly this week.

Futures,

The 1701 contract showed a downward trend at the beginning of the week, and was strong after the downlink was blocked. It closed at 15230 yuan / ton on the 04 th of November, compared with the previous Friday's settlement price of 15200 yuan / ton, a slight increase of 0.2%.

ICE cotton slipped rapidly in the beginning of the week, and then gradually stabilized, especially in October 31st, because the index fund will be more than a head of the contract from the recent contract extension to the far month contract, ICE12 cotton contract fell 2.77%, the largest daily percentage decline since September 12th.

Since the end of the storage cotton rotation has been completed for a month, the main supplier of the market has gradually shifted to new cotton.

at present

Picking and selling at about 80%, the cost of new cotton is basically stable. On the one hand, this week's textile enterprises are weakened by the downstream situation, which is relatively inconsistent with the current cotton prices. On the other hand, due to the reduction in the stock of pre national cotton stocks, the willingness to replenish the stock according to the demand for cotton distribution has led to a slight warming of cotton prices this week.

Generally speaking, the cost of domestic cotton is higher and the downstream is difficult to digest cotton prices. Cotton prices are difficult to fluctuate for a time. Cotton prices are expected to run smoothly next week.

Zheng cotton was obviously frustrated by the rapid slipping of ICE cotton this week, but the bulls are still on the way.