Domestic Cotton Futures And Spot Markets Are Exhausted.

　　 In recent years, policy regulation has continued to increase, monetary policy tightening is expected to increase, commodities continue to face pressure, and the cotton market is cooling down rapidly. On the evening of November 19th, the central bank announced that the deposit reserve ratio of deposit institutions should be increased by 0.5 percentage points from 20 to November 29th. The State Council 16 measures for price control were introduced to strengthen the supervision of agricultural futures and electronic trading market.

At present, the domestic cotton futures and spot markets are showing signs of weakness, the industrial chain is watching from top to bottom, and the cotton farmers are generally reluctant to sell. Many cotton producers have suspended seed cotton acquisitions and intend to increase sales of lint. However, most textile enterprises "buy up or not buy". enterprise The number of new orders is small, and the lint trade is light.

In November 19th, the national cotton price B index, representing the average price of the standard grade cotton in the mainland, was 28638 yuan / ton, down 2582 yuan / ton, or 8.3%. Zhengzhou cotton futures contract settlement price of 27545 yuan / ton in January 2011, down 2125 yuan / ton compared with last week, or 7.2%. Beijing's national cotton trading market electronic matching transactions in January 2011 the average contract price of 27143 yuan / ton, compared with last week fell 3622 yuan / ton, or 11.8%. Hefei national cotton trading center electronic matching transaction contract settlement price in January 2011 was 27420 yuan / ton, down 2540 yuan / ton compared with last week, or 8.5%. In November 19th, the average purchase price of the 3 grade seed cotton in the mainland was 5.95 yuan / kg, down 0.91 yuan / Jin, or 13.3%, the cost of cotton lint 25545 yuan / ton, down 4282 yuan / ton, or 14.4%; the average price of 3 cotton seed purchase in Xinjiang was 5.93 yuan / Jin, which dropped by 0.87 yuan / Jin, or 12.8% yuan. Preliminary analysis and judgement, at present, the leading factors of domestic cotton cities are strong, and there is still some room for policy adjustment in the late stage. From the perspective of annual market development, the unrestrained explosive market has ended, and now the market has entered the stage of macroeconomic tightening, inflation control policy and the relatively tight stage of cotton production in the year, especially high grade cotton. However, the gradual return of cotton market to reason is the general trend.

　 Under the influence of China's macroeconomic policy and the European debt crisis, commodity prices continue to bear pressure and international cotton prices fall sharply. In November 19th, the ICE cotton futures contract settlement price in December was 127.90 cents / pound, down 12.28 cents / pound compared with last week, or 8.8%, representing an international cotton index (M) of 163.25 cents / pound on the average price of the Chinese main port on imported cotton, down 8.80 cents / pound, or 5.1%, compared with last week. According to 1% tariff, discount. RMB The factory price is 27677 yuan / ton (at RMB 6.6408 exchange rate), which is lower than the domestic market 961/ tons, the price difference narrowed 1183 yuan / ton last week. According to the sliding tax, the discount price to the factory price is 27977 yuan / ton, which is lower than the domestic market 661 yuan / ton, and the price difference narrowed 1197 yuan / ton.