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If Cotton Prices Go Up And Support Is Insufficient, They Will Be 1 Below.

2010/7/20 9:07:00 35

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New Cotton Output Zhengmian Cotton Price

At present, the implementation of domestic macroeconomic regulation and control policies has had a direct impact on the stock market, futures market and real estate industries. However, due to the debt crisis in the eurozone and the lack of momentum in the recovery of the US economy, the futures market is also in a downward trend.

In view of domestic cotton market, domestic cotton market spot supply and demand is still tight.
鄭棉近月合約期價維持高位盤整態(tài)勢，而遠月合約期價在市場預期新棉上市將使得供應寬松的情況下，加上國內(nèi)紡織品出口放緩，其振蕩偏弱。

Overall, although tight supply in the short term still supports high spot cotton prices, the new cotton market will gradually ease the impact of tight supply in the domestic cotton market. In the context of the appreciation of the renminbi and pressure on textile exports, the long-term trend of Zheng cotton will be dominated by oscillations.

Commodity prices have dropped.

Cotton price

Rising support shortage

Since entering the two quarter, in order to prevent loose monetary policy from causing excessive inflation and inflation, our government has issued a series of macro-control policies, and has obviously suppressed the stock market, futures market and the real estate industry.

To some extent, the rise or fall of domestic stock market can reflect the active degree of social market economy and investors' participation in the capital market. However, the domestic stock market has been in a downward trend for 3 months, and the enthusiasm of investors to participate in the capital market is obviously frustrated.

Commodity futures market is no exception, non-ferrous metals and chemical products prices continue to fall.

In the overall decline in commodity prices, although cotton prices are supported by tight supply and demand in the spot market, cotton prices in the spot market are relatively strong, but the cotton price is generally strong and weak.

At present, the price of PTA, which is the same as the textile material, continues to decline. The price of its main contract has dropped to 7000 yuan / ton, which is also a certain constraint on the rising of Zheng cotton.

In addition, the US Department of agriculture's report on crop acreage released at the end of June showed that the 2010/2011 cotton planting area is expected to increase by 19%.

At present, due to the good weather conditions in the producing areas, the US cotton is growing well, and the high yield is expected to be enhanced.

At the same time, domestic cotton and India and Brazil new cotton planting area is stable, and the output of new cotton is expected to increase.

To a certain extent, it will suppress the rise of cotton prices in the later stage.

On the whole, the current global economic recovery situation is uncertain, exacerbating the market's concerns about the "two bottom finding" of the economy, and the strengthening of domestic macroeconomic regulation has weakened commodity prices, coupled with global and domestic prices.
新棉產(chǎn)量預計樂觀，在大宗商品價格回落之際，后期棉價走高缺失足夠的支撐。