Last week, the new cotton picking progress over the previous week to speed up significantly, seed cotton prices fell sharply after stabilizing. Domestic cotton price decline slowed, the international cotton price rebounded slightly, to expand domestic and foreign cotton price. Cotton yarn prices continued to decline, the price of polyester staple fiber, “diving.”

Seed cotton prices fell sharply after the stabilization of

According to the National Cotton Market Monitoring System in 14 cities and counties of 91 provincial farmers 1248 survey data showed that as at October 22, 2008, the investigation was picking cotton farmers for the progress of 71.7 percent, 1.0 percentage points year-on-year decline, the chain increased 10.6 percent; Sell seed cotton rate of 47.0 percent, year-on-year reduction of 5.2 percentage points. According to the 90 large and medium-sized cotton processing enterprises in the survey, as of October 23, surveyed the new cotton processing enterprises was 45.2 percent, 12.0 percentage points year-on-year decline; the new cotton sales rate of 10.8 percent, 17.4 percentage points year-on-year decline .

In accordance with the domestic cotton production is expected to 7,630,000 tons (National Cotton Market Monitoring System in August forecast) estimated that as of this year’s Oct. 22 National lint has acquired 2,570,000 tons, down 12.6 percent; the processing lint 1,160,000 tons, down 30.8 %; Sales of the new 276,000 tons of cotton, up 66.7 percent reduction, combined with reserve bid of 110,000 tons Xinjiang, the new cotton sales is estimated to be 386,000 tons.

Last week, the State Shouchu cotton, soybean and rapeseed, and other favorable policies, the acquisition of domestic business confidence has been restored, seed cotton prices fell significantly after a post-stabilized.

Slow down the decline of domestic cotton price

Early last week, the textile industry the impact of sluggish demand for domestic cotton view larger decreases in spot prices; the latter part of last week, Shouchu increase in intensity, and other positive factors, market confidence has been restored, domestic cotton price fall Slow down. Oct. 23, 328 on behalf of the domestic cotton price of spot prices of cotton, the country’s B index (CNCotton B) to 12,364 yuan / ton over the previous week down 172 yuan / ton, a decrease of 1.4 percent; Zhengzhou cotton futures contract settlement price in November 12,215 yuan / ton over the previous week down 130 yuan / ton, a decrease of 1.1%; the National Cotton Exchange e-brokered deal in December contract average 12,047 yuan / ton over the previous week down 332 yuan / ton, a decrease of 2.7 percent.

International cotton price rebounded slightly, to expand domestic and foreign cotton price

Last week, subject to further deterioration of the situation in the global economy and rebound in U.S., international commodity futures prices fell sharply on the New York Cotton futures continued to fall after a slight rebound; and pre-made cotton price drop of U.S. cotton increased signing, the cash offer Also rose slightly. Oct. 23, ICE cotton futures December contract price for 49.08 cents / lb, over the previous week fell 0.49 cents / lb, on behalf of the world’s cotton stock of the international cotton prices index (M) to 66.14 cents / lb, more Zhou rose 1.00 cents / lb, or 1.5 percent. By 1% tariff calculation, the cost of imports of discount of RMB 11,777 yuan / ton (6.8368 to calculate the exchange rate), down from 587 yuan in the domestic market / tons, spread over the previous week to expand 356 yuan / ton; slip by quasi-tax basis, the yuan discount the cost of imports 13,050 yuan / ton, 686 yuan higher than the domestic market / tons, spread over the previous week to expand 265 yuan / ton.

Cotton yarn prices continued to decline, the price of polyester staple fiber, “diving”

October 23, 32 carded cotton yarn offer 19,220 yuan / ton over the previous week down 200 yuan / ton, a decrease of 1.0%; in the polyester staple fiber raw materials prices have fallen and the lack of demand driven by a “diving” Market, 23 offer 8300 yuan / ton, down from the previous week of 1300 yuan / ton, a decrease of 13.5 percent.

Looking afternoon

By the economic slowdown brought about by the expected decline in demand and the dollar rebounded sharply, international commodity futures market remains down oscillation patterns, ICE cotton futures are still in a weak position. Last week, the national macro-control policies introduced in order to safeguard the stable operation of markets for agricultural products, increase the income of farmers, the state decided to cotton, rice, corn, soybean and rapeseed and other major agricultural products Shouchu. As of October 23, Shouchu Xinjiang has 170,000 tons, and the National Development and Reform Commission said that the next step will depend on market conditions to increase the number of Shouchu and organize the Xinjiang Sinotrans. October 21, the state announced, including textiles and garments, including 3486 kinds of labor-intensive goods, the export tax rebate rate hike policy, which is the second time this year raised the country’s textile and garment export tax rebate rate. From these two policies, the country’s determination to shore up the market much, the national market regulation and control is also a reflection of the more sensitive the latter part of last week, the city of domestic cotton has been to stabilize the signs, to restore market confidence. Macro-economic situation at home and abroad, there is uncertainty in the background, the majority of cotton-related enterprises need to pay close attention to changes in the market, while maintaining prudent operation of the train of thought at the same time, in the light of the country’s macro-control means the direction of the market actively looking for opportunities to smooth the “winter . “