Market Analysis: Zheng Mian'S Daily Trend Is Strong, Focusing On The Listing Of New Cotton

On Wednesday, Zheng Mian's main contract closed at 17430 yuan/ton, recording a daily increase of 0.98%. The support brought by supply worries offset the impact of the higher dollar, and ICE cotton was almost flat overnight. Domestic fundamentals are intertwined with many and short factors, and market sentiment fluctuates repeatedly, focusing on the turnover of dumping and storage, downstream demand, new cotton output and price, etc.

Many domestic factors restrict each other. Xinhu Futures said that at the current stage, Zheng Mian's multiple factors are intertwined, and most of them are seizing the expectation and opening the price. The vacancy in the downstream industry chain is less than expected, and the policy side supply increment and cotton yarn channel inventory are sufficient. In the short term, as far as the time point is concerned, market attention is more focused on the former. According to rumors, Bachu Machinery Mining has started weighing 8.2 yuan/kg, with 42% of sweaters. The price of cottonseed is estimated at 3.2 yuan/kg, and the processing cost of converted lint cotton is about 18300 yuan/ton. The upside down price of the panel is more than 1000 yuan/ton, which means that the panel is more profitable. However, this rumor remains to be verified. At present, no relevant bills have been seen. In terms of hand picking cotton, 13 processing plants of the First Division announced that 43% of the clothes were picked at a starting price of 9 yuan/kg. With the coming of the new flower market, the weighing machine will be opened in northern Xinjiang at the end of the month, and the weighing machine will be opened in southern Xinjiang in early October later, so it is necessary to pay attention to the weighing price, rush collection and bank lending policy.

As for the evolution of the market logic, Huarong Rongda Futures said that at present, there is a fierce game between the long and short sides, and the market is waiting for the change of the opening price and market sentiment of Xinmian's listing. The cotton price may continue to fluctuate widely. Zhongtai Futures said that with the gradual increase of phased supply and the structural contradiction between spinning loss pressure, demand season and expected production reduction, cotton prices fluctuated and waited for the direction.