The Overall Outlook For The Cotton Market Is Negative Pressure.

The 1601 month contract of Zheng cotton futures went down at a low price last Friday, dropping 30 yuan, closing at 12225 yuan, closing about 207 thousand hands and holding about 290 thousand hands.

On the spot side, China's cotton price refers to the number of cotton yarn, 3128B cotton index 13071 points, down 2 points, spot prices remain stable, market supply gradually increases, new cotton picking has entered the peak period, spot processing has gradually increased, and spot demand is cold, combined with market raw materials supply and supply situation and the current weak demand situation in the lower reaches.

There is no rush to purchase raw materials, and cotton processing enterprises are also cautious in purchasing processing. The US Department of agriculture's monthly report shows that China's demand is shrinking and stocks are rising.

ICE

Futures fell on Friday and the most active December contract fell 0.11 cents to 61.61 cents.

The US monthly report on monthly supply and demand released by the US Department of agriculture showed that in the year 2015/16, the US output forecast dropped by 90 thousand to 13 million 340 thousand bales compared with the September estimate, and the export forecast remained unchanged. At the end of the year, the inventory estimate dropped by 100 thousand to 3 million 200 thousand bales. The annual volume of China was estimated at 2530 million packages, which was 700 thousand more than the September estimate of 2015/16.

The data remained unchanged. At the end of the year, the inventory was 65 million 270 thousand packs and 64 million 620 thousand packages in September.

At the end of the year, inventories increased, and demand for the future market continued to shrink. The global 2015/16 cotton inventory at the end of the year was estimated to be 106 million 970 thousand packages, the global cotton demand was shrinking, the inventory at the end of the year was rising, and the overall outlook for the cotton market was negative. This continued to keep cotton prices under pressure. ICE cotton futures prices fell slightly and continued low adjustment. The uplink resistance of the December contract was near 63 cents.