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European And American Data Again Slump &Nbsp; Supply Worries Cotton Stability.

2011/8/19 15:49:00 55

Europe And The United States Supply Cotton Area

[message surface]

The US Labor Department announced that overall seasonally adjusted CPI rose by 0.5% in July.

As of August 13th, the number of initial jobless claims increased by 9000 to 408000.

According to the National Association of Realtors on Thursday, the volume of home sales seasonally adjusted in July dropped by 3.5% compared to June, or 4 million 670 thousand.

Worries about the US's sinking into recession are on the increase, and the three indexes are all down by more than 3%.

america chung nam

Cotton region

The total rainfall is about 0.1-0-0.25 inches, and a large amount of rainfall has been harvested in some areas. Most of the cotton is in good condition. The West Dezhou is expected to maintain a temperature of about 38 degrees C in the next few days. The cotton field in drought condition is further subjected to high temperature pressure. The southeast cotton area has a clear weather and a temperature of about 32 degrees C, which has greatly relieved the recent high temperature pressure.

There is news that India

New flower

The planting area has exceeded 11 million 500 thousand hectares, reaching a new high point. The latest official statistics will be announced in the near future.

According to statistics from India Cotton Advisory Committee, India cotton planting area in 2010/2011 is 11 million 142 thousand hectares.

Cotton prices have risen sharply in the northern part of India due to concerns about recent delays in picking up new flowers in early planting areas.

Heavy rain has occurred in some parts of Punjab province of Pakistan Province, and the recent floods in the southern part of Sindh province have affected cotton production. Local traders estimated a loss of 5.1-6.8 million tons of lint. However, it is generally predicted that the output of the new flower will still reach 238-255 tons.

Tight supply of seed cotton continues to support the formation of cotton prices. Textile mills are forced to purchase at current prices when demand is immediate.

According to the latest report, Garner's cotton production will be much lower than expected by the heavy rain.

[current offer]

US cotton: the US cotton main force closed at 106.95 cents / pound, down 0.87 cents / pound, or 0.81%.

Zheng cotton: Zheng cotton main contract 1205 contract 21305 yuan / ton, up 45 yuan / ton, or 0.21%.

Yesterday at home

Cotton spot

The market swept away the haze of early stage, and there was a slight reversal.

As of August 18th, China's cotton price index (CC Index 328) closed at 19058 yuan / ton, up 1 yuan.

In terms of foreign cotton, China's cotton import index (FC Index M) closed at 132.64 cents / pound, and the discount tax was about 22188 yuan / ton, compared with the same grade cotton price difference of 3130 yuan / ton.

Textile enterprises began to inquire and purchase actively as raw material inventory bottomed out, but the market volume did not enlarge immediately.

On the downstream side, the cotton yarn market is well matched with the price of Lo cotton yarn, and 32S and 40S continue to maintain stability yesterday. 21S has a better shipment in the near future.

The overall market situation is not substantially supported at present. Therefore, the full recovery of cotton market still needs time and support from various favorable factors such as policies.

[technical analysis and operational recommendations]

Overnight, the US cotton fell to a high level, and the short-term pressure on the 108.5 front line was seen. From the Pagoda line, the price trend was good and continued to rise. Today, if we step back to step 106, it will still be the buying opportunity.

Yesterday, Zheng cotton opened up and left low, running down below the average price all day, ending at 21305, a slight increase of 0.21%, and a slight decrease of 2400 hands in holding positions, with a turnover of 70000 hands.

From the main position, the long cut warehouse 3000 hands, short cut 4000 hand.

Zheng cotton yesterday MA5 and MA10 produce golden fork up, can continue to defend MA5 to look up, the 5 week line 21600 position is still the recent big pressure position.

Recommendations for intraday operation

Cotton 1205 contract short line bought near 21300 front line, 21600 first line lightens the warehouse; the long line many simply continues to hold.