Zheng Cotton Is Concerned About The Gap Pressure, Or Rebounded In The Shock.

Overnight, the market suspected that the shortage of cotton used in the July contract delivery resulted in insufficient inventory. Cotton price All the way up, and eventually sealed on the daily limit. The far month contract also rose strongly due to poor weather conditions in Texas and delta. It remains to be seen whether cotton prices will continue to rise due to the lack of market demand.

Recently, some towns in Jiashi County of Xinjiang were attacked by heavy rain and hail. The hail is 1-2 centimeters in diameter, and the hailstones accumulate 10 centimeters in severely damaged areas. As at 5 a.m. on May 13th, the cotton affected area was 32225 mu, 22490 acres of wheat, 6490 mu of cucurbits, 105 acres of corn, 1500 mu of vegetables, 9 damaged greenhouses, 10 10 collapsed houses, 220 220 damaged houses and 50 50 dead livestock.

International market, yesterday because of ICE cotton futures prices rose sharply, import cotton China's main port price rise. As the ICE cotton futures prices in the early stage are relatively large, the possibility of a technical rebound is greater. However, judging from the fundamentals, short-term ICE cotton futures prices are higher pressure. In addition, the US dollar index has continued to rise in recent times, which has a negative impact on most commodity futures prices, including cotton.

Domestic market, domestic cotton spot market prices continue to be weak, and the market volume is small. After a period of decline, the prices of high-grade cotton in the current market are relatively stable, and the drop is not large. The difference between the sale prices of low-grade cotton is larger, the price is larger and the sales are more difficult. Although the decline in cotton prices has narrowed recently, there has been no sign of improvement on the whole.

Spot quotes, May 16th, USA C/A cotton The price quoted is 178.60 (cents / pound, the same below). The general port trade delivery price is 29890 yuan / ton (calculated according to the sliding tax, the same below). Australia cotton quotation is 178.35, discount general port trade port delivery price 29848 yuan / ton.

Uzbekistan cotton quotation is 188.35, discount general port. Trade The delivery price is 31480 yuan / ton. The quotation for West African cotton is 199.10, and the general port trade delivery price is 33233 yuan / ton. National cotton price A index 26632 yuan / ton, down 37 yuan; B index 24896 yuan, down 70 yuan.

Market analysis, overnight U.S. cotton main contract closed at the limit, the technology price will be above 143 cents / pound finishing. Yesterday, Zheng cotton 09 contract again upside gap, late 25000 above the cross star, is the technical correction of the day before yesterday's big line, overall, the short-term shock rebound is still not over.