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Cotton Fatigue Shows Cautious Concentration And High Risk

2010/10/7 23:08:00 29

According to Bangalore's September 30th news, as of September 29th,

NYBOT

The number of deliverable 2 cotton contracts is 18169 packs, the number of which is 17255 packs on the previous day.

On the 30 day, the number of cotton reserves was 30011.315 tons, with an average price of 19038 yuan / ton (net weight). As of September 30th, the total amount of cotton put into the market was 681370 tons, and the actual turnover was 671771 tons, with a turnover rate of 98.6%.

There are signs that cotton prices will not rise substantially, but cotton fundamentals are in a tight state.

Under the influence of policy adjustment and cotton's own fundamentals, the short-term adjustment of cotton prices is more likely to be adjusted.

According to some enterprises in Xinjiang, "according to the purchase price of seed cotton at 10.4 yuan / kg,

lint

It must be sold for 24 thousand yuan / ton before it is guaranteed.

And they think cotton price is 20 thousand yuan, which is very difficult for cotton spinning enterprises to break even.

All kinds of signs do not support cotton's record highs. The price difference between cotton and 4000 yuan now puts cotton industry chain in a very awkward position.

At present, the personal view is still consistent with the original. Do not expect cotton to continue the bull market. At least in the short term, we must sort out the price at present.

I hope you will carefully gather high risk cotton, especially enterprises and individuals with high price cotton stocks. It is recommended that futures hedging be carried out and risk locked.

In October 2nd, from

futures

In terms of technical graphics, the American cotton graphics can be said to be rather weak.

On the daily chart, the speed of coming down from the 106.4 cent high point was very fast. Three days, two big Yin lines directly hit the price to 97.92 cents. Last night the fall reached 3.93%!

Almost three days, two times limit!

If we don't feel it, let's take a look at the 60 minute figure of the US cotton. Each column represents the latest 60 minutes. In the last few hours, bullish funds have no resistance and there has been a sharp drop.

In short, the cotton is exhausted now. For the customers who are quilt, we can only expect the US cotton to recover part of the lost land in the final days of national day.