The United States in March cotton futures fell 88 points to 47.03 cents a pound

Today, the trend today

Zheng cotton CF905 shock after this even more, to close at 11,370 points, up 35 points.


trend yesterday the United States in March cotton futures fell 88 points to 47.03 cents a pound in recent months in December contract down 64 points to 45.11 cents a pound. With the higher dollar and the stock market to decline, including crude oil, metals and grain futures and other commodity markets under pressure. Friday, ICE cotton stock 918,591 for the same package; cotton positions to increase 85 to a total of 127,006 hand in hand. Cotton futures trading volume estimated at 10,121 in hand. In option trading, closing about 2681 hand in hand call and put option 5455. The turnover of close calls than 7,000 hand suddenly reduced, it puts increased, indicating a rebound is coming to an end.

Analysis of the fundamentals (1) December 2 CCindex index for 10,697 yuan / ton, up 21. (2) on December 1 COTLOOK index for the Far East 57.65, up 0.55. (3) today Zhengzhou Commodity Exchange cotton warehouse receipts for the number of 358, 632 effective forecasting. (4) today announced “on the strict norms Shouchu dealers involved in the transaction and the signing of the contract notice”, which involved Shouchu dealers as well as the qualifications of the relevant provisions of the contract were clear, that is to further standardize the Shouchu Trade practices, the introduction of this requirement at this time, is likely to increase in the latter part of a Shouchu bedding. Last week, Citibank of the United States of funding, China cut interest rates sharply to reduce the cost of doing business, a lot of support for the price of cotton. And the global cotton USDA2008 annual report that is expected to play in the second quarter of next year will be a gap between supply and demand, but also for the future will be cotton price support. However, international economic data continue to refresh people’s expectations of the depth of the recession: the United States in November ISM manufacturing purchasing managers index hit a new low in 1982 to only 36.2 percent, and prior to the expected value of 37%; Europe in November manufacturing purchasing managers index A 11-year low, 35.6 percent, 36.2 percent is expected before, in October than the 41.1 percent decline again; German manufacturing sector purchasing managers index fell to record low of 35.7 percent, 36.7 percent is expected before. The index below 50 indicates manufacturing activity in the manufacturing sector is the brink of collapse – not orders, the company did not have to work as well as investment in power. To continue the fight against economic decline in cotton prices in the near future will be for two weeks in a row before rebounding have to adjust the amendment.

Technical analysis day trading days in the future, fluctuations in the range 11491 – 11134 yuan / ton; over the next 5 days of cotton price fluctuations in the price range will be 10,832 yuan / ton – 11600 yuan / ton between.

Operation of the proposed shock

market operations, short-term buy low sell high.