Today on domestic into new cotton (0, 20115.00, 100.00%), namely the year 2011/12. Zheng cotton today, closed up to shock, 1205 agreement reported in every tons of 21670 yuan, a settlement price drop $55 yesterday, down 0.25%. We believe, in shock after finishing, zheng cotton 1205 contract could still to rally around 22570 yuan, extreme cases can reach 23200 yuan, in this interval, investors can establish proper empty list.

According to ShouChu plan, on September 1, 2011 to March 31, 2012, when the relevant units during the market price of cotton monitoring for five working days than stipulated by the state ShouChu of prices, approved by the relevant departments of the state, the national cotton trading market (hereinafter referred to as the "market") and the Chinese ChuBeiMian management corporation (hereinafter referred to as "company") reservoir in cotton timely ShouChu work. Start $19800 for a fixed price, open an unlimited takeover. The planned intervention, strong strength is leading the recent cotton futures price of the decisive factor. This combination of technical analysis estimates, zheng cotton 1205 contracts in the main support every tons of 20340 yuan, 22570 yuan a line is the main pressure position.

The spot market, cotton prices stabilised, the cotton yarn go smooth relative goods. Every year in October 9, is the traditional industry busy season, after half a year to go to the inventory, the downstream enterprises after will be for library needs.

Today China cotton price index for 19316 yuan, a rising yesterday, the nine yuan cost less than 19800 yuan ShouChu price of 484 yuan. The national cotton trading market of 1201 spot the contract price at every tons in today 20280 yuan, a futures contract 1201 21180 yuan's closing price of low for 900 yuan.

According to the U.S. department of agriculture in August cotton supply and demand for the next fiscal year, report cotton supply pillow. 2011/12 annual global cotton production is expected to 26.717 million tons, is expected to reduce 97000 tons last month, but the global consumption to reduce 342000 tons, 25.077 million tons, 1.64 million tons of current supply greater than demand, for the first time in recent years. Global stock rose to the final 11.465 million tons, global final inventory consumption is 46%, higher than expected in 2009/10 and 2010/11 higher than the estimated last month also.

Along with the consumption season begins, downstream demand for library or become DuoTou further hype factors. But on the whole, the height of the technical rebound is relatively limited. Investors can patience wait for opportunity, if 1205 agreement to rally 22570 yuan to 23200 yuan between, can establish proper empty list.

Source "the Chinese textile nets"

Edit: lara