People Say ICE Cotton: The Surrounding Market Is Unfavorable To &Nbsp; Cotton Futures Callback.

Friday's ICE cotton futures market shrank and contracts fell in general, mainly due to the rise in the US dollar and the fall in Asian cotton market prices.

The US dollar is strong throughout the day, hitting a new high for the euro. The German central bank governor Webb said the European Central Bank will continue to provide a series of emergency loans to eurozone banks by the end of this year.

On the same day, the ICE market was slack, the contract fell 13 points in recent months, the contract fell 83 points in the far month, and the market position was less than 1236 to 211531.

From the perspective of technical graphics, the current price of the December contract is 83.18 cents, the 9 day price average, the rise resistance is 84.70 cents.

Textile export growth slowed down, RMB appreciation, cotton import quotas increased and other negative factors followed, resulting in the weakness of the early Zheng cotton market.

But in the case of strong domestic spot prices, declining futures stocks and relatively large late variables, the trend of cotton prices is complicated and confusing.

After the listing of new cotton, the market still expects a phased supply and demand contradiction, so spot cotton prices may fluctuate and fluctuate.

The recent weather changes will affect investors' nerves.

By comparing the planting benefits of corn, wheat and cotton, the reasonable price of new cotton is 3.8-4 yuan / Jin, later cotton.

The surrounding market is unfavorable.

ICE cotton futures fell slightly last Friday. The most active December contract fell 59 points to 83.55 cents.

ICE cotton futures high after concussion low, the afternoon is basically a narrow shock to performance, and finally did not take back the decline, the market paction is light, ICE cotton futures are present to performance, the new cotton will be on the market, and the cotton output increases, the market brings pressure, and the surrounding commodities are also weak, some investors choose to profit, but the current market is only vibrant, and no downward turning trend.

The latest news from China Cotton Association shows that China's cotton output in 2010 was flat or slightly higher than last year's level. Although there was a total flood weather in some parts of the country, the total output of cotton was expected to increase slightly due to the increase in cotton yield per unit area.

Last Friday, all the sale of national cotton and cotton were sold. The price was 328 yuan, the price of cotton was 17885 yuan / ton, which was 925 yuan higher than that of the previous day.

The regulation of the state and the coming of the new cotton are going to be difficult for the cotton prices to go up in the short term.

Zheng cotton futures went down sharply on Friday and fell sharply, following the downward trend of neighboring commodities. Although there is no downward trend at present, the resistance is at least higher, and cotton prices are expected to consolidate and weaken slightly after that.

(Haitong futures Zhengzhou Sales Department: Zhang Jianwei)