Commodity Fell &Nbsp; Zheng Cotton Will Once Again Test The Lower Edge Of The Shock Interval.

ICE Stage cotton On the 23 day, it fell 1%, which was depressed by the fall in the commodity market and its weak demand since last week. Index July contract fell 1.72 cents, or 1.1%, at 1.5389 US dollars per pound; new December cotton. contract Flat, $1.1976 per pound.

Xiangcai prayer futures analyst Fang Huiling said that because of the European debt crisis and China's economic slowdown signs of investor confidence, the international commodity market fell on the 23 day. Domestic stock market continues to stabilize, but the textile situation is still grim, and business needs are cautious. Under the suppression of internal and external factors, Zheng cotton will soon test the support of the 24200-25800 below the shock interval.

The US Department of agriculture (USDA) reported in the weekly crop growth report that as of May 22nd, the US cotton (25335,90.00,0.36%) planting rate was 57%, compared with 42% in the previous week, 59% in the same period last year, and 61% in the five year period. In the major cotton producing areas of Texas, serious drought continued in Texas, and cotton production in the state accounted for 1/3 of the total American supply. The extent of damage to cotton crops in the United States this month will be clearer in June.

Due to the drop in cotton yarn prices and the accumulation of stocks, the India national spinning factory decided to strike in May 23rd. Since May 24th, the factory plans to reduce its daily output by 1/3. They asked the government to take immediate measures to save the spinning industry and reconsider the current cotton and cotton yarn policy.

China Cotton Corporation: the overall seedling quality of China's cotton is better than that of the same period last year, more than 40%, which is the same as that of the previous years (the first 8 years). From a large area, the northwest is better than the Yellow River, and the Yellow River is better than the Yangtze River. The continuous drought in the Yangtze River Valley, despite the drop in temperature after May 21st, is still uneven due to limited rainfall and drought.

Domestic stock continued to stabilize, and some enterprises showed signs of spot shipment, but textile mills were only limited to high-grade cotton. The price of the cotton mill has dropped, and inventory sales have increased. However, because of the high cost of procurement and the frequent reduction in prices recently, the textile situation is still very grim. Textile enterprises will continue to maintain the purchase of cotton according to their purchasing practices. Recently, textile enterprises and gray fabric enterprises have slightly increased their storage capacity to maintain their start-up, but they are very cautious. 23, China's cotton price refers to (CCIndex328) 24541 yuan / ton, down 11 yuan, and 527 cotton to plant average price 22680 yuan / ton, unchanged from the previous trading day.

In May 23rd, the cotton trading market of the whole country was slightly weaker after the electronic matching of commodity cotton. The main MA1108 contract closed at 24420 yuan, up 43 yuan; in recent months, the MA1106 contract closed at 24190 yuan, up 155 yuan. The spanaction volume decreased slightly, and the order volume continued to decrease.

On the international side, ICE cotton fell 1% on the 23 day and was depressed by the fall in the commodity market, and its weak demand since last week continued. The July contract fell 1.72 cents, or 1.1%, at $1.5389 a pound; the new December cotton contract was flat at $1.1976 a pound. On the domestic side, Zheng cotton futures were sorted out on the 23 day, slightly increased, and the main 1109 contract opened at 25055 yuan / ton, the highest 25245 yuan / ton, the lowest 24840 yuan / ton, reported at 25000 yuan / ton, up 70 yuan, or 0.28%. Trading volume was 1 million 912 thousand hands on that day, 282 thousand fewer than the previous trading day, and 24730 hands in 463 thousand positions.

Technically, the main 1009 contract 23 days in the vicinity of 25000 yuan / ton line concussion, small Yin stars, the price is still subject to the suppression of multiple average, the market consolidation pattern remains. Market shrinkage, adding positions, from the post position position, cotton contract summary of the top 20 positions, the main body multi agency increase more single, and the market net short cut. Zhejiang Yongan substantially increased holdings of more than one single 13238 hands, while Galaxy futures reduced 4992 hands. The strength of long positions is further concentrated, and the top five institutions have a dominant position in the long positions, showing that the agencies are not optimistic about the underlying cotton market.