USDA Report On Cotton Supply And Demand

2011/12/13 8:50:00 9

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Zheng cotton futures lower 12 days to maintain low

Arrangement

。

As of the close, the main 1205 contract fell 50 yuan from last week's settlement price, closing at 20515 yuan per ton, or 0.24%.

The US Department of Agriculture recently released the world's cotton in December.

supply and demand

The report shows a rather negative report.

The latest forecast of 26 million 870 thousand tons of global cotton output in 2011/12 is forecast to be reduced by 110 thousand tons from the previous month. However, global consumption has also been reduced by 640 thousand tons to 24 million 240 thousand tons, and the global end stocks have increased by 590 thousand tons to 12 million 560 thousand tons.

However, domestic purchasing and storage has substantial support for cotton prices. The actual daily storage and storage pactions in the country are still over 30 thousand tons. In December 9th, the total amount of storage and storage was 1 million 360 thousand tons.

In the national reserve and spot market, a dynamic balance mechanism has been formed.

3 million 500 thousand tons of state storage and storage plus normal

consume

The total of 4 million 200 thousand tons has reached 8 million 700 thousand tons.

Considering that domestic cotton output will be around 7 million 300 thousand tons to 7 million 500 thousand tons this year, if the quota policy has not changed much, then the circulation of cotton resources in the market will be tight in the second half of next year.

Zheng cotton short-term profit target should not be too high, pay attention to risk.