Cotton futures accept low in early trading Thursday, a short wave back to fill buying subsidise back when investors in a dish, and traders digested the selling a U.S. government important crop report. The intercontinental exchange (ICE) pointer December cotton period of some CTZ1 accept low 1.28 cents per lb, report to 96.52 cents.

Zheng cotton 1205 contract today the warehouse to rise. In 20980, the highest high open 21520, minimum 20960, to close at 21360, a rise on the day 385 points (+ 1.84%). Cotton index increased warehouse 172612 open hand, volume for 1.05 million more hands.

The spot market, August 12,, China cotton price index (328) for 19189 yuan/ton, fell 49 yuan/ton. August 11, FCIndex imports cotton price index (S) of 127.71 cents per pound, up 1.02 cents. Discount 1% tariff 20956 yuan/ton, rising to 166 yuan; Fold slippery prospective tax 21394 yuan/ton, up 164 yuan.

Last night, the United States department of agriculture has issued the monthly supply and demand forecast report, this report for the fourth month lowered the global cotton consumption, but still more than a 1% year-on-year increase; Also a small cut new annual global cotton output, but still makes production record highs; So global final stocks than the previous year from the 30.15% rise to 34.47%, this is the final inventory consumption than for the second consecutive year callback. According to the report, the new annual global cotton 1.64 million tons, making up excess supply and demand of global consumption of about 6.5%, in the overall supply and demand loose cases, and for the future of the market economic recovery not believing cases, cotton prices will still in low interval concussion.

From observing the disk surface, this day 1205 zheng cotton high open, after opening price rise up to 21520, unilateral, then falling, open greatly increased. Today the warehouse in cotton prices, but the overall trend is still in a fall in consciousness. At present the operation Suggestions can continue hold, in addition the short today in the process of change month arbitrage window opened them again, can try to buy a sell five.

Source "the Chinese textile nets"

Author: east Asia editor: Emma XuZhou futures