US Cotton Down, Cotton Jumping Down

　　 US cotton futures fell on Tuesday, triggering a down limit. The market is doubting that the US Department of agriculture's monthly supply and demand report may reduce the cotton export forecast, which may also damp down cotton prices. ICE's new cotton futures CTZ1 fell 7 cents in December, triggering a limit of 1.2993 dollars per pound.

Today, Zheng Mian 1109 contracts open low. Low opened at 25800, the highest 25900, the lowest 25545, closed at 25750, compared with the previous trading day fell 600 points (-2.28%). Cotton index increased by 18792 hands, turnover of more than 1 million 140 thousand hands.

Spot market, June 8th China Cotton price The index (328) was 24575 yuan / ton, up 16 yuan / ton. In June 7th, the import cotton price index (FCIndex S) was 188.61 cents / pound, down 3.52 cents / pound; 1% tariff 31082 yuan / ton, down 576 yuan / ton; discount sliding duty 31420 yuan / ton, down 571 yuan / ton.

From the current market fundamentals, the current focus of the market is downstream. consumption 。 Due to the low textile consumption in the early stage, domestic cotton mills and cloth factories Sale The rate is lower than that of the same period last year. The inventory accumulation of cotton mills and cloth factories also indicates that the domestic downstream industries are prepared to purchase cotton for a further reduction. But as time goes on, the consumption inventory of domestic downstream is gradually consumed, and many cotton mill inquiry prices have become positive, and the purchasing intention has increased. In the short term replenishment demand boost, cotton is expected to usher in a short-term rebound. On the whole, cotton fundamentals remain tight this year and will continue to operate at a high level.

Judging from the trend of the disk, the domestic market continued to fall below the US limit today. The price continued to fall after opening, the lowest to 25545, followed by a rebound in the surrounding market, and the position continued to shrink. After today's low jump, cotton has remained at the 10 day and the 20 day. On the operation, it is recommended to wait and see for the time being.