February 11 Comments cotton futures market

Cotton: NYBOT down last night, the United States because of the financial industry and economic worries dragged down triggered a selling cotton futures fell to a low of three weeks, last night announced the United States Department of Agriculture reports were seen as bad. March contract fell 300 points to 46.98 cents / lb. Monday ICE to increase cotton stocks to a total of 4278 packets 157144 packets.

Cotton main contract yesterday Zheng Ping CF905 open long positions in early trading period to suppress the rapid price adjustment, followed by short-covering support period price afternoon interval concussion, day line formed stars, the main contracts traded shrinking positions fell. 18,126 contracts traded CF905 day hand, date hand 1550, 53,376 hand closed positions;

Fundamentals of the situation: last night the United States Department of Agriculture announced in February monthly report, the report showed a further reduction of global cotton consumption, the U.S. cotton stocks increased. Which the United States there is no change in production, domestic use of cotton amounted to 849,000 tons, 7 percent reduction in export volume to reduce 109,000 tons, to 2,504,000 tons, ending stocks increased 12% to 1,676,000 tons. Slightly adjust the global cotton production, consumption and imports dropped. As a result of global economic growth has been consistently lower than expected, therefore reducing the volume of cotton consumption by 2% year-on-year reduction of 8.2%. Global cotton imports reduced by 6%, due to reduced demand for cotton in China, so China’s cotton imports 218,000 tons reduced. Global cotton 4% at the end of inventory adjustment for 1,343,000 tons.

Technical analysis: Mr Cotton CF905 adjust contract closed flat open stars, a view prices remain at above average on the 5th, day trading volume shrinkage can be seen as a technical breakthrough in shrinking after the adjustment date is still a profitable line pattern; 60 minutes graphics stable after finishing high adjust short-term stagflation Although technical support but did not break, and short-term form of the relative benefit. Operation, because the attention of the Ministry of Agriculture report bad adjustment, multi-stop single-Strict, period closing prices in more than 12,000 under the proposed single-temporary leave callback wait for the market, the recent short-term operation is appropriate.

Copper: the adoption of a revised program to stimulate the economy of the United States failed to bring confidence to the market, the London Metal went down, Copper & from the recent high of 3500 fell below short-term moving average support Copper & more obvious, but the MACD indicator has high Recent concern about the technical adjustments, 905 copper line if 28,800 more than low single- holders, otherwise a temper; short positions were mainly empty days short temper.

Zinc: Zinc-lun substantially lower but still received a temporary short-term moving average support, 905 zinc 10,660 if single out first-line air yesterday, instead, hold or every altitude.

Cotton: Crude oil fell and the USDA raised cotton New Zealand in March last about fall, the price under the rail into the pre-, 905 cotton line 12000 concern the support of effective multi- are speculative holders, on the contrary out; preserve and increase the disk space to continue the strategic cloth ideas.
Oil: Crude oil fell and the CBOT soybean oil caused lower profits, 905 beans, vegetable oil may adjust the near future, mainly short-term transactions
Suspense not make long-term single-space.
Aluminum: Aluminum continue Fallon goes a long way to lead the London Metal downward trend, the recent concern about the short-term moving average support, 905 aluminum continue to pay attention to first-line 12000, should not be closed at high altitude, on the contrary leave the space alone.
Glue: is Japan’s National Day today, the lack of guidelines to follow 905 plastic metal trend down, if the Department has stabilized in the short-term moving average is a short-term single-space, instead, hold or every altitude.