Mainland lint continues to fall, and textile mills are generally less active in purchasing
According to the information officer of the Anhui Dongzhi Monitoring Station of the National Cotton Market Monitoring System, At present, the purchasing price of Anhui Dongzhi seed cotton is stable, and the price of grade 3 white cotton is 3.65-3.80 yuan/jin (clothing content 36.5-40%). Due to the recent decline in futures prices, cotton farmers are reluctant to sell, and the purchase price of seed cotton is not low. The purchase cost of cotton companies is higher than the futures price. As a result, some purchase companies have closed their doors and stopped collecting, and have turned to warehouse receipt cotton. As futures prices fell, spot quotations also fell. Lint cotton grade 3128 was quoted at 15,500-15,700 yuan/ton, and grade 4128 was quoted at 15,200-15,400 yuan/ton (delivery, ticketing, gross weight settlement), both down 100 yuan/ton from yesterday. .
Recently, cotton farmers and cotton companies in Hengshui, Hebei Province have reported that some companies have suspended acquisitions and consolidation. On December 29, a 400-type cotton company in Hengshui stated that the spot price of lint cotton has continued to fall in recent days. The local heavy delivery price of large bales of cotton of grade 3128 is 15,900-16,000 yuan/ton, and that of grade 3127 is 15,600 yuan/ton, down 200 yuan/ton from Monday.
With the completion of the acquisition, sorting and warehousing of lint in Xinjiang, mainland employees have also bought tickets to return. About 70% of the cotton companies in Xinjiang have become deserted, and some manufacturers have quickly quoted prices to sell the remaining 5-15 We will approve the lint cotton and strive to achieve 100% clearance before the Spring Festival. Since the CF1703 and CF1705 contracts in Zhengzhou fell below 14,700 yuan/ton and 14,800 yuan/ton respectively, mainland cotton companies have bought warehouse receipts from Zhengzhou. Not only are the prices lower than the spot prices, but they also use very little funds to lock in high prices. Grade cotton resources.
Pakistan: The main cotton areas have been relatively dry recently, and the cotton fields are currently in urgent need of rainfall irrigation. On December 28, domestic seed cotton prices remained firm, fluctuating between 70-86.25 rupees/kg depending on quality. Cotton farmers are quite satisfied with the yield and price of the new flowers, and their enthusiasm for planting is high, which to a certain extent guarantees the possibility of cotton planting next year. However, due to the slowdown in the market volume of new cotton, locals are quite negative about the total cotton production forecast. Some analysts believe that The total number of new flowers this year may be 1.7 million tons.
India: On December 28, the delivery price of S-6 cotton enterprises rose to 39,550 rupees/kandi (74.00 cents/pound), Punjab J-34 is quoted at 4,200 rupees/morund (74.85 cents/pound); currently, 24,500 tons of lint cotton are on the daily market in India, including 5,440 tons in Gujarat and 8,840 tons in Maharashtra.
As of 24:00 on December 27, Xinjiang’s cotton has been sorted to a total of 3.76 million tons, and the national public inspection volume has been 3.682 million tons. This year’s cotton output has increased significantly compared with last year. It is estimated from the current sorting situation that Xinjiang’s total output this year It may reach 3.9-4 million tons. Recently, the sales progress of cotton enterprises has accelerated. Due to the sharp fall in Zheng cotton prices, the spot price of Xinjiang cotton has also begun to fall. The gross weight quotation of “Double 28″ hand-picked cotton in Aksu and Bachu regulatory warehouses has dropped to 15,200-15,400 yuan/ton. The gross weight quotation of 29/pair 30” machine-picked cotton has dropped to about 15,500-15,600 yuan/ton, and the quotation of lint cotton in the mainland has also dropped in recent days.
The price of lint has fallen, and the strategy of buying as you use is adopted. December is the peak period for foreign cotton imports. It is estimated that the import volume in December will be more than 100,000 tons. In other December, Xinjiang cotton is estimated to be shipped 400,000-500,000 tons. In addition to the local cotton, it is estimated that the mainland cotton will be shipped at the end of December and early January. With abundant resources, the spot price of lint is easy to fall but difficult to rise. The sale of reserves will begin in March next year. On the one hand, there will be pressure on the market in terms of supply. On the other hand, the reserve cotton auction floor price will be based on the price difference between domestic and foreign cotton. By then, the lower reserve cotton transaction price will lower the average market transaction price. , so cotton reserves will also put certain pressure on future market cotton prices. In the short term, Zheng cotton also lacks upward momentum, so the overall cotton price shock in the later period is weak. At present, the main contract of Zheng Cotton is still adjusting after the sharp decline. It is recommended to open short positions on rallies and pay attention to the market capital situation.
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