Zheng cotton opened sharply, rebounded under the support of short covering, and closed down sharply at the end of the day. The trading volume was enlarged, and the position was reduced and increased. The price of spot cotton continued to decline in a weak way. The downstream yarn enterprises adjusted the position of standing orders according to their raw material inventory, some of which were trading in accordance with the trend, and some of them subsequently lowered their positions. The overall trading volume was significantly increased. The external environment was difficult to be favorable. The epidemic situation in Indonesia was rampant, the epidemic situation in Tokyo Olympic Games was repeated, and floods occurred in many places in Europe, This triggered the market's concern that the economic activities of many countries might be stagnant again. The financial market generally fell, the price of bulk commodities fell, and cotton fell. However, with the support of the transaction price of state-owned cotton and the good operation of downstream, the cotton price gradually rose. After the price reached the low level, some enterprises with low inventory of raw materials actively traded, and the overall trading volume increased, However, the relationship between China and the United States is still tense, and the global epidemic situation is in the third wave. Even if the industry basically supports the cotton price, it still needs to be cautious to catch up with the high price. Therefore, it is recommended to take a step-by-step approach to stock up at low prices.