Xinhua Futures: ICE Cotton Early Plate Narrow Shocks

　　 Cotton (16425,80.00,0.49%): the risk is increasing in recent months, and there is a possibility of closing.

Outer disk:

23 days ICE Stage cotton Early morning narrow shocks, as registered inventory since June has been significantly reduced since the end of 23, registered inventory of only 55 thousand packages, for the low since 2004, a sharp reduction in stock prices during the stimulus period cotton rose, the main contract in December the highest 75.54 cents / pound, the final 75.34, breaking the upper limit of the recent wave range 75 cents, the transaction was slightly active.

Domestic:

Today, Zheng cotton main CF1101 contract goes higher and higher. transaction Around the average line, except for the two pull ups in the morning market, the price reached 16380, and the mood of the consolidation was strong. The daily line is a positive line, and MACD has a cross upward intention. The final CF1101 contract closed at 16340 yuan / ton, up 80 points. Volume trading positions were reduced, the daily turnover of 120 thousand and 600 hands, 17514 days to reduce positions, the final position of 175 thousand and 800 hands.

　　 Spot side :

Spot prices continued to slide, and cotton producers were positive, with quotations continuing to decline slightly, with little turnover. The sale of cotton yarn is poor, and the purchasing enthusiasm of the spinning mill is low. As some textile mills have higher inventories, the demand for replenishment needs to be insured, so market sentiment is stronger. The cotton trader today quoted three cotton at 18300 yuan / ton. On the 23 day, China's cotton price index (CC Index 328) was 18267 tons, or 11.

Operation: in recent months, it has hit a new high, with a cautious holding. The stock exchange recently announced the position risk of the contract in recent months, and the operation of the stock market has been keeping close watch on the positions in recent months.