sharkcagepoker| Cotton-sufficient supply, relatively poor downstream textile market

ICE cotton futures fell on MondaySharkcagepokerDriven by the shift of traders to clear positions, overshadowed by positive sentiment in the financial markets, ICE July cotton, the most actively traded, closed down 1.Sharkcagepoker.0 cents or 1.28%, the settlement price is 77.06 cents per pound. USDA weekly export sales data show that in the week ended April 25, US cotton export sales for the current year increased by 97400 bales, down 45 per cent from the previous week, 20 per cent from the previous four-week average, and a net increase of 15000 bales to China. Us cotton exports shipped 180000 bales that week, down 31 per cent from the previous week and below the four-week average of 39 per cent. Domestic market: cotton sowing in the new season has been carried out in an orderly manner, and some cotton fields have emerged one after another, and the overall weather condition in the near future is better than that of the same period last year. Cotton commercial inventory is still sufficient, coupled with the port import cotton is still full, but the supervision of warehouse import cotton import and export business increased. On the demand side, the downstream textile enterprises are not willing to purchase raw materials, and the trend of peak season is obvious. Overall, the current commercial inventory of cotton is higher than that of the same period last year, and the supply is still adequate. In addition, the downstream textile market is relatively poor, the performance of orders is scarce. Cotton prices are expected to fall mainly after the festival. In operation, it is suggested that cotton 2409 contract price should be treated with short-term short-term thinking.

Researcher: Cai Yuehui

Futures qualification number: F0251444

Futures investment consulting certificate number: 20013101

Assistant researcher: Li Qiurong

Futures qualification number: F03101823

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