Cotton Prices Small Callback Investors Can Intervene More Appropriately

First, the trend of internal and external market

because

The United States is reaping in the wake of fears of tight domestic supply in the US, and the market is still short of demand.

Last Friday, cotton prices fell again and continued to decline.

The New York commodity exchange (NYBOT) cotton futures contract fell 0.31 cents in December to 72.42 cents a pound, or 0.43%.

Affected by the falling price of cotton futures on Friday's outside market, today's domestic cotton main contract CF1301 opened slightly lower at 19560 yuan in early trading.

The late opening price rebounded slightly, the highest rebounded to 19570 yuan.

But then the concussion fell, and close to the close, the lowest down to 19500 yuan.

Cotton prices are relatively weak all day, basically running below the average price line.

Cotton 1301 main contract finally closed at 19500 yuan, compared with the previous trading day settlement price fell 75 yuan, or 0.38%.

The volume of turnover is 13 thousand hand to 24 thousand hand compared with the last trading day, and the position is slightly increased by 700 hands to 169 thousand hands compared with the last trading day.

Two, message plane

Recently, a number of foreign institutions and foreign trade and import trade enterprises rumoured that the state planned to throw the store in November. According to the current high grade Xinjiang cotton enterprises, almost 100% of them are used for storage, and the port free trade zone and the far month shipping period are not large enough for the high grade flowers in the United States and cotton. In addition, in 2012, the state can no longer issue cotton import quotas, and the real estate cotton is generally four or five class.

In the international market, 26 days, the price of imported cotton stabilized after several days, and the quotations of all varieties remained stable.

At present, the new cotton market will continue to appear on the list of prices.

The factory does not seem to have fallen in place, so the decline has failed to stimulate more downstream demand.

Overall, there is still room for further adjustment after the adjustment.

Domestic market, 26, domestic cotton spot prices continue to operate smoothly.

Because of the support of the state's unlimited purchasing and storage factors, cotton prices may be slow to close to the reserve price.

However, after the end of the purchase and storage, the possibility of dumping is very large, because although the textile enterprises have difficulty in survival, in order to maintain production, there is still a need for cotton, and it will become an inevitable choice when the market does not have much cotton available.

Spot quotation, October 26th, the US C/A cotton 87.60 (cents / pound), discount general trade port delivery price 14968 yuan / ton (calculated by sliding tax); Australia cotton 93.60, discount general trade port delivery price 15741 yuan / ton; Uzbekistan cotton 89.60, discount general trade port delivery price 15220 yuan / ton; West Africa cotton 85.35, discount general trade port delivery price 14692 yuan / ton; India cotton 83.60, discount general trade port delivery price 14481 yuan / ton.

The national cotton price A index was 19647 yuan / ton, up 1 yuan; the B index was 18793 yuan, up 1 yuan.

Three, operation suggestion

Technically, last Friday, the NYBOT cotton futures price continued to be weak, and a small line was collected, and the trend was very weak.

However, after the US cotton continuous adjustment, technical indicators are seriously oversold, and there is a possibility of short-term technological rebound.

Today, although the 1301 contract of Zhengshang cotton has continued to be weak, it has finally gained a small line, but the drop is not big, and the downward movement is obviously insufficient.

Operational suggestions

1301, we can rely on the 19300--19400 platform.

In addition, attention to the US cotton 72 cents integer threshold support.