US cotton futures closed up on Thursday, as cotton production in 2011/12, a major cotton grower in Dezhou, suffered from the worst drought in a century, and the US cotton production estimate was reduced to 17 million bales from 18 million last month. ICE index cotton futures CTZ1 rose 2.84 cents in December, at 1.3299 dollars per pound.

Today, Zheng Mian 1201 contracts go up and down. Low opened at 24515, the highest 24750, the lowest 24465, closed at 24655, up 125 points compared with the previous trading day (+0.51%). Cotton index increased by 25944 hands, turnover of more than 940 thousand hands.

Spot market, June 10th China Cotton price The index (328) was 24556 yuan / ton, down 6 yuan / ton. In June 9th, the import cotton price index (FCIndex S) was 176.84 cents / pound, down 5.62 cents / pound; 1% tariff 29155 yuan / ton, down 920 yuan / ton; discount sliding duty 29512 yuan / ton, down 911 yuan / ton.

Yesterday, the US Department of Agriculture released the latest global cotton supply and demand forecast report. According to the report data, the US Department of agriculture has cut the global 2011/12 output, mainly due to the impact of drought in the United States. cotton It will further reduce production, and at the same time reduce global consumption, mainly due to the expected downward trend in China's consumption at high cotton prices. On the whole, global cotton supply exceeds demand in the year of 2011/12, but the stock at the end of the year has picked up, but it is still at a low level of second in the past 15 years. The fundamentals of the world's cotton industry have begun to turn for the better. Domestically, the US Department of agriculture predicts that the domestic output of the new year will be restored, but this month's consumption has been lowered, and domestic cotton supply and demand in the future are expected to be better than in the current year. In addition, domestic cotton consumption and import volume continued to decrease in 2010/11, but overall supply and demand remained tight this year. Therefore, the probability of a sharp rise in cotton prices in the later stage is low, but it will remain at a high level.

Judging from the trend of the disk, domestic cotton is open today, and the price trend has been oscillating after opening, followed by the following. Peripheral market Rebound, up to 24750, above the 5 day line to suppress, before the end of the callback, positions continue to increase. After the fall of the day before yesterday, cotton still did not make up for the shortfall. On the operation, it is recommended to continue to wait and see.