Cotton Reduction And Consolidation, Short Term Stabilization

2011/10/11 11:54:00 31

[brief comment]

Overnight ICE cotton rose, which helped investors in the short term and the US dollar slump, but it was relatively cautious on the market before the US Department of Agriculture issued monthly demand and supply reports. Cotton has rebounded nearly 10% since mid September.

The market is now waiting for the monthly report of the US Department of agriculture's Greenwich time at 12:30 on 12 th. In December, the cotton period was about 1.36 cents higher, closing at 1.0334 dollars / pound.

Zheng cotton

The CF1205 contract is open and adjusted to close the small line. The daily line is supported by the 5 average line, and the short-term pattern is stable.

[information hotspots]

1. it is estimated that in October, the precipitation in the eastern part of Northwest China, the central and southern parts of North China is more than that of the same period of the year, which is not conducive to cotton harvesting and drying.

2. according to China Customs statistics, 1-8 months 2011

yarn

The import and export volume was 3 million 207 thousand and 500 tons, down 4.54% compared with the same period last year, and the import and export volume was 12 billion 702 million US dollars, an increase of 24.3% over the same period last year.

3. the paction of acquisition and storage pactions is also expanding, and the pessimism of cotton traders to the market outlook is gradually reflected.

In the market, the new flower purchase is still in progress. The weather in the mainland is clear and new cotton is in storage.

In October 10th 4.2011, 24300 tons were planned for storage and storage, and 90 tons were actually traded. The warehouse was Tianjin Yangliuqing warehouse.

Up to now, a total of 470 tons have been accumulated.

5.10, 10, the national cotton market.

commodity

The cotton electronic matching paction reached 11020 tons, a decrease of 8640 tons compared with the previous day, an increase of 1000 tons of orders, and an accumulative purchase of 56620 tons. In October 10th, China's cotton price index fell 10 yuan to 19945 yuan / ton; in October 10th, the middle price of the US dollar exchange rate in the inter-bank foreign exchange market was 1 US dollars to RMB 6.3586 yuan.

[operation suggestion]

Zheng cotton CF1205 contract open adjustment to adjust the small Yin line, the daily line is supported by the 5 average line to stop, the short-term pattern has the sign of stabilization, recommends moderate buying.