Recalling the market

December 5, Zheng Tiaokongdikai finishing cotton, volume, open interest continues to grow. One, CF901 contract closed at 11,190 yuan, compared with the previous settlement price was down 60 yuan; CF903 contract closed at 10,930 yuan, down 100 yuan; CF905 contract closed at 10,840 yuan, down 250 yuan; market transactions 192,822 hand-over 38,262 increase in close hand, a total of 96,876 positions in hand, the increase of 12,536 in hand.

Last weekend the New York Cotton futures fell sharply, the March contract closed at 41.37 cents, down 223 points.

Spot domestic cotton prices, the mainland on behalf of 229 cotton prices A national cotton price index (CNCotton A) to 11,337 yuan / ton, down 5 yuan / ton; the mainland on behalf of the 328 countries of the cotton price of cotton B price index (CNCotton B) To 10,722 yuan / ton, down 1 yuan / ton.

Fundamentals situation

Shouchu Summary: December 5 total turnover 65,900 tons, 9200 tons Xinjiang is not traded. December 5, China’s cotton reserves Management Corporation designated 38 Shouchu Shouchu open warehouse, plans Shouchu 65,900 tons, 55,200 tons for the Xinjiang cotton, 10,700 tons of cotton to the mainland. In the end, closing the day a total of 56,700 tons, 9200 tons Xinjiang is not traded. As of Dec. 5, 2008 Shouchu traded a total of 745,000 tons Xinjiang cotton, cotton Mainland a total of 160,050 tons traded.

Binzhou, Shandong, Dongying seed cotton prices. December 5, cottonseed by lower prices and other factors influence, in Dongying City, Shandong Province, seed cotton prices continue to fall, mainstream 3 seed cotton purchase price of 2.5 yuan / jin (lint more than 40% lower than the resurgence of 11%); cottonseed 0.78 / Jin, respectively, than the 4 fell 0.05 yuan / jin and 0.02 yuan / jin. In addition, Binzhou City, on the same day as the price of cottonseed 0.78 yuan / jin, a 3 down 0.03 yuan / jin; 3 seed cotton purchase price to 2.35-2.38 yuan / jin (38% of lint percentage, 11% moisture), with 3 unchanged But the acquisition of substantially reducing the volume.

Hengshui in Hebei: Shouchu incremental boost cotton prices, cotton prices continue to rise. Recently, the state has increased the cotton reserves Shouchu progress, coupled with market rumors the country will continue to increase Shouchu, Shouchu and cotton production will reach 1 / 3, affected by this good news, Hengshui, Hebei cotton market has continued to improve. Dec. 4, 2 seed cotton purchase price to 2.50-2.52 yuan / jin (39% of lint, the resurgence of 11%), 3 2.42-2.44 yuan / jin (38% of lint, the resurgence of 11%), of which 3 Seed cotton prices rose above last 0.02-0.03 yuan / jin, on volume of acquisitions at between 10-15 million jin; 3 lint sales offer 10700-10750 yuan / ton (delivery price, net weight, with votes), up 50 -100 Yuan / ton, not volume.

Anhui: Bozhou seed cotton prices remained stable, active market to buy the east. With the national Shouchu work gradually in-depth, Bozhou in Anhui Province of seed cotton prices basically stable. December 4, the purchase price of seed cotton to 2.10-2.30 yuan / jin, because cotton farmers a stronger psychological Hard Trading in a Dream, 400 Japanese companies to buy less than jin million, more than 200 enterprises from the market wait and see. In addition, the Anhui in the east of seed cotton prices basically stable, Dec. 4, 3 seed cotton purchase price to 2.35 yuan / jin (lint 39.5%, 11% water, Hanza 1.3 percent, the same below), 4 for 2.30 yuan / Jin, 400 enterprises on the acquisition remains at between 20-30 million jin, to buy hot market, the stock market before the wait-and-see 200 enterprises have begun to buy seed cotton.

Jiangsu: lint prices Dafeng, Xinghua, deputy cotton market in the doldrums. Lint prices Dafeng, Jiangsu’s up more stability. Dec 4, 329 big cotton prices for 11,600 yuan / ton (of public prosecution, delivery, 70% cash), reached a high of 12,000 yuan / ton, up over 3 million 900-1300 / t; 328 packet Cotton 10,800 yuan / tons, up 3 than 100 yuan / ton, less turnover. In addition, Jiangsu Xinghua, deputy cotton market has continued to be weak, on December 5, light seed price 0.82 yuan / jin (12-13% of the oil, water 11-12%); seed Mao 0.84 yuan / jin, and last week the basic Flat prices fell slightly in some areas; protein content of 40% of the ex-factory price Cottonseed Meal 1700 yuan / ton, unchanged from last week; 4 ex-factory price Mianyou 6000-6100 yuan / ton, down 2 than the 100 yuan / ton Or so.

U.S. weekly cotton export: to continue to reduce the amount of the signing. December 4, the U.S. Department of Agriculture announced on Nov. 21-27 of the report of the U.S. cotton exports. When the week, 2008/09 U.S. net upland cotton export contract volume for the 20,300 tons over the previous week to reduce 47% over the previous four-week average of 52% reduction, the main buyers for Turkey, China (3470 tons), Mexico, Vietnam , Indonesia and Guatemala; 2009/10 net upland cotton export contract volume of 408 tons, is the buyer of Korea; U.S. upland cotton export shipment volume of 58,200 tons over the previous week, an increase of 28% over the previous four-week average increase of 20% The main export to China (27,500 tons), Turkey, Mexico, Indonesia and Vietnam; American Pima net export volume contracted to 408 tons, the buyer was China (294 tons) and Peru; Pima cotton shipment volume for the 68 tons.

Looking afternoon

Cotton futures in New York over the weekend by the United States increased the number of unemployed dropped to the impact of macroeconomic changes in the face of market-led. Zheng cotton prices by 20 to suppress average, are still vulnerable.