Cotton Prices Remain Weak Late In The Future Worth Looking Forward To

ICE cotton futures fell on Wednesday. The most active May contract fell 0.27 cents to 56.59 U.S. cents.

The US Department of agriculture's report on demand and supply released in March showed that the United States had 12 million 940 thousand packages of cotton output, an export forecast of 9 million 500 thousand packages, a year-end inventory estimate of 3 million 600 thousand packages, and a forecast of 23 million 800 thousand packages of Chinese imports and exports, an estimated 5 million packages of imports, an estimated 64 million 520 thousand packages at the end of the year, and a forecast of data from China and the United States. The output of cotton in India was 26 million 800 thousand packages, which was estimated to be 27 million 800 thousand packages in February. The global cotton end of year inventory was estimated to be 103 million 340 thousand packages, and February was estimated to be 104 million 80 thousand bags. According to the report, the global cotton inventory was lowered due to the reduction in output estimates, especially the large reduction in India, 2015/16.

It has not changed significantly.

The news of the release of cotton reserves is uncertain, which has a certain pressure on cotton prices, ICE

The period price has been kept short, and the weak trend has dropped.

Zheng cotton futures 1609 month contract low on Wednesday low, down Yin down 120 yuan, to close at 10290 yuan, traded about 330 thousand hands, holding about 601 thousand hands.

On the spot, China's cotton price index 3128B cotton newspaper yesterday 12013 points fell 2 points, the spot index narrowed, the decline slowed down, the market waiting for the reserve cotton rotation policy announcement, the spot paction was light, and the inventory of cotton enterprises had strong willingness to inventory, but faced with low price, there was also a certain reluctance mentality. Cotton processing costs, warehousing costs plus capital costs were far higher than the current market price, selling losses at current prices were too high, textile enterprises were cautious in entering the market, and there was no big deal in the market.

Zheng cotton futures continued to decline for two days, the rally ended, the momentum of the fall was obvious, and the market was still in short supply.

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China's economic development has entered a new normal, experiencing the throes of the pformation of new and old energy, but the fundamentals of China's steady economic development have not changed.

China's new industrialization, information technology, urbanization and agricultural modernization are advancing in depth, and domestic market demand is strong. Economic development has great potential, resilience and leeway. Structural reform is deepening and China's economic prospects are bright.

General secretary Xi Jinping stressed the need to increase the structural reform of supply side, with emphasis on promoting effective overcapacity, promoting industrial optimization and restructuring, reducing the cost of enterprises, developing strategic emerging industries and modern service industries, increasing the supply of public goods and services, improving the quality and effectiveness of the supply system, better meeting the needs of the people, promoting the overall productivity of our social productive forces and enhancing the driving force for sustained economic growth.

Recently, the Gansu delegation held a group meeting to deliberate on the work report of the government.

Liu Weiping, governor of Gansu Province, said that for Gansu, it is necessary to play the key role of effective investment in the steady growth and structural adjustment in accordance with the requirements of the government's work report, tap potential and steady growth, ensure employment and protect people's livelihood.

During the "12th Five-Year" period, the average annual growth rate of Gansu's economy was 10.5%, and the general public budget revenue increased by 16% annually. The number of new urban employment increased by more than 400 thousand per year, and the annual income of urban and rural residents increased by 11.5% and 13.1% respectively.

At the two sessions of Gansu province held in January this year, Liu Weiping released the economic growth expectation of Gansu in the "13th Five-Year" period - 7.5%.

Liu Weiping said, "looking back, this arrangement is based on adapting to grasp and leading the new normal, taking into account speed, quality and efficiency. Taking into account the needs and possibilities of speeding up the process of building a moderately prosperous society in an all-round way in Gansu, it is entirely in line with the central spirit."

"We still have room to release our demand potential in many areas," he said.

Yang Hexiong, Deputy Secretary General of Gansu Provincial Federation of Light Industry Federation, thinks that the textile industry is China's traditional pillar industry, an important livelihood industry and an industry that creates new advantages of internationalization. It is a combination of technology and fashion, clothing consumption and industrial use. It plays an important role in beautifying people's life, promoting related industries, stimulating domestic demand growth, building ecological civilization, enhancing cultural self-confidence and promoting social harmony.

As a relatively backward area in Western China, Gansu urgently needs to rely on market forces and national planning to guide the pformation and upgrading of light industry and textile and garment industry. Vigorously developing light industry and textile and garment industry is expected to change the lifeline of Gansu's economy and is of great significance to Gansu's economic growth.

Although the situation at home and abroad has been extraordinarily complex and changeable since the international financial crisis, various risks and challenges faced by the textile industry have been increasing.

At the same time, we should also see that in the next five years, our country is at a critical stage of building a moderately prosperous society in an all-round way. This basic fact determines that the textile industry is still in an important strategic period of great potential.