Zheng cotton fell sharply today, the main 1109 contract closed at 31325 yuan per ton, down 1460 yuan, or 4.45%, turnover 1 million 890 thousand hands, 330 thousand hands increase, positions increased 5000 hands, reaching 370 thousand hands. Zheng cotton main pressure above heavy, or into the recent shock market, the general investors cautious wait and see.

Overnight American cotton There was also a sign of adjustment. The Asian session May contract reached a limit of 7 cents, with a current rate of 207.14 cents per pound. Affected by the fall of Zheng cotton, the price of cotton or cotton is difficult to pick up tonight. It will also have a negative impact on the opening price of the morning cotton.

In the spot market, both in November and after the Spring Festival this year Price rise The characteristics of lattice and fatigue are weak. Although the 3 grade cotton is scarce, the price will stop at about 32000 yuan. At present, the main textile enterprises mainly rely on consumption inventory, and the speed and willingness of Hebei cotton producers to speed up shipments have been accelerated. Domestic cotton prices are rising sharply.

In addition, the target of macroeconomic regulation and control set by the state this year will continue to have a lasting impact on cotton prices. According to the plan announced by the NDRC, we should strengthen the regulation of price regulation this year, keep the general price level basically stable, and strive to reach 6 million 800 thousand tons of cotton output. It can be compared that the cotton output in China in 2010 and 2009 was 6 million 400 thousand tons and 5 million 970 thousand tons respectively.

From the perspective of Lido factor, although Zhengshang has allowed the spot trading list of the national cotton trading market to be qualified, it has been converted into a futures warehouse receipt, but the registered warehouse receipt of Zheng cotton has not increased significantly. There are 407 registered warehouse receipts today, an increase of 1 compared with yesterday, with an effective forecast of 428, which is generally at a low level. This also shows from the side that cotton resources are still in relative shortage.

From the perspective of national strategy, The 12th Five-Year During the period, the focus of the country is to reform the income distribution system and promote domestic demand, which will lead to a long-term positive demand for cotton textile and clothing. Although domestic textile enterprises are experiencing the pressure of rising labor costs, the overall cotton demand in the future will be hard to reduce.

From the technical point of view, Zheng cotton main 1109 contract is currently in a dilemma. A significant pressure was formed at the top of 34000 Yuan line, which was strongly supported by the 60 day moving average. In the future, zhengmian 1109 contracts will be repeated in this area, and investors will wait for their money.