Cotton Bottom Bottom Picked Up More Than One Hundred Thousand &Nbsp In The Middle Of The Market, And The Temporary Bears Could Be Temporarily Withdrawn.

　 Cotton futures on the ICE interacted on Monday. The market was consolidated after last week's general market downturn. The market adjusted its position before the announcement of the US Department of agriculture's supply and demand report. Index ICE-7 cotton contract CTN1 fell 0.16 cents, and the settlement price was 1.454 dollars per pound.

today Zheng cotton 1109 contracts first fall and then rise. Low opened at 24740, the highest 25060, the lowest 24250, closed at 24985, up 215 points compared with the previous trading day (+0.87%). Cotton index increased by 102940 hands, turnover of more than 2 million 150 thousand hands.

In the spot market, in May 9th, China's cotton price index (328) was 25655 yuan / ton, down 421 yuan / ton. In May 9th, the import cotton price index (FCIndex S) was 176.49 cents / pound, down 1.45 cents / pound; 1% tariff 29195 yuan / ton, down 238 yuan / ton; discount sliding duty 29552 yuan / ton, down 236 yuan / ton.

Wei Qiao textile, the largest textile enterprise in China, is down again Cotton acquisition The price of the 3 grade cotton was reduced by 1000 yuan / ton again. After adjustment, the grade 329 cotton was 24000 yuan / ton, and the 429 grade cotton was 23700 yuan / ton. Judging from the current Canton Fair turnover, domestic textile enterprises are not as old as the previous years. Enterprises are more cautious when facing high cost and appreciation of the RMB exchange rate. In the short term, the domestic textile industry is facing a slump in the peak season, consumption is flagging, and demand for cotton continues to shrink. But overall, in the context of global economic recovery, the textile industry will continue to develop in the long run, despite the slowdown in the short term. Domestic cotton prices will remain high.

From the disk trend, the domestic market opened lower today, after opening price continued to fall, the lowest to 24250, then began to shake up, the highest to 25060, close to the high point within the day, the position increased substantially. Cotton prices first fell and then rose, hitting the lows, and began to stop and rebound, hitting the 5 day moving average. Generally speaking, cotton is still in a downward path, and the pattern of the bear market has not changed, but it has rebounded before and after the close, and has strong short-term support. On the operation, it is suggested that the early bears can be temporarily withdrawn.

The above views are for reference only, not as the basis for market participants to enter the market. futures There is risk and investment must be cautious.