Zheng Cotton From More Than 10 Points Closer To Yesterday's Closing Price.

　 Although Zheng cotton, which was driven by the United States and cotton in the overnight market, started to go higher and higher in the morning, but the market occupied the main force because of the empty side. The cotton price began to go down from 10:30 and close to yesterday's closing price. 。

As of midday, Zheng cotton 1109 contract closed at 26425 yuan / ton, down 345 yuan / ton, or 1.29%, trading volume of nearly 1 million 140 thousand hands, 2220 hand off; zhengmian 1105 contract closed at 26445 yuan / ton, 1.18% decrease, trading volume nearly 75 thousand hand, reduced turnover 3772 hand. As of 11:40, ICE cotton 3 monthly report closed at 1.3070 U.S. dollars, down 0.95%.

In the spot market, in December 9th, the volume of the national cotton electronic matching market was 12660 tons, and the order volume was 80900 tons. In recent months, the MA1012 contract was closed at 27000 yuan / ton, down 41 yuan, with a turnover of 760 tons; the main MA1105 contract was closed at 26620 yuan / ton, down 234 yuan, and the turnover was 4700 tons. In December 9, 2010, China's cotton price index (CC Index328 grade) was 26769 yuan / ton, up 13 yuan / ton; CC Index527 level was 25018 yuan / ton, up 45 yuan / ton; CC Index229 level was 27575 yuan / ton, up 11 yuan / ton.

According to the news of New York on December 8th, cotton futures on the Intercontinental Exchange (ICE) were mixed on Wednesday, and market participants were preparing for the US Department of agriculture's monthly demand and supply report on Friday. Index ICE the cotton contract in March was 1.58 cents higher, at $1.3195 per pound, and the trading range was 1.2642-1.3372 dollars. Analysts say the market is also waiting for the monthly supply and demand report to be adjusted. If the US Department of agriculture's supply and demand report shows that the supply of cotton is tight, the market rally may reignite.

On the news side, the cotton farmers cooperative association of China Cotton Association conducted a survey on cotton planting intentions in 2011 in 263 counties and more than 1700 designated farmers in 12 provinces and cities in the mainland. The survey results show that: the cotton price in the early stage is high, the enthusiasm of cotton farmers to grow cotton is increased, and the cotton price fluctuation has increased in the later period, and cotton farmers are in a dilemma. According to the weighted average data of cotton farmers surveyed, the cotton planting area in the Yangtze River Basin continued to increase in 2011, with an expected increase of 11.7%. The enthusiasm of cotton growers in the the Yellow River river basin is not high, and is expected to increase by 4.9%. The agency expects that in 2010, the output of all kinds of cotton in the United States was 18 million 400 thousand packs, down from 19 million 100 thousand packages estimated in November. The US Department of agriculture (USDA) estimated that the country's cotton output was 18 million 419 thousand bales in November 9th.

Since Zheng cotton began to rebound in November 29th, the price has reached a critical moment. These days, Zheng cotton is facing a directional choice. The National Bureau of statistics will release data on the main indicators of the national economy on Saturday. The central bank's interest rate increase this week is expected to be stronger. The rebound of commodities will not be smooth sailing in November. US cotton is coming to Hong Kong and may reach its peak in mid December. In addition, under the relevant state policies and regulations, Xinjiang cotton output increased before the Spring Festival. Before the Spring Festival, textile enterprises have ample supply and are in a psychological advantage. The height and intensity of Zheng cotton rebound will definitely not reach the peak of the previous stage, because officials do not want to see the cotton prices that have just cooled down again. As a whole, short-term Zheng cotton may continue to rebound, but the price should not be too high. {page_break}

Specific operations, zhengmian 1109 now prices have been in the interval between 26100-27865 fluctuations to find a breakthrough, if dropped to below 26100 support, then the empty side can wait for the opportunity to enter, if the 26100 stand on the stability of many can continue to hold.