Zheng Cotton Shock Zone Still Needs To Be Consolidated.

　　 ICE Cotton futures Tuesday (November 30th) closed up, the end of the market short back support to support the market, but the closing position is still far below the previous record highs. Among them, the March contract rose 1.58 cents, to close at $1.1734 / pound, with a turnover range of 1.1376 to 1.189 dollars per pound.

Despite the fact that investors closed up at the end of the month, the closing position was far below the historical highs they had hit earlier this month. However, analysts said the fundamentals of the market remained positive. In addition to March contracts, spot December contracts also rose 3.72 cents, closing at 1.2623 dollars / pound, and 0.77% higher in November. However, the March cotton contract fell by 2.58% in November, the largest monthly decline since May.

ICE cotton futures rose to a record high of 1.5723 U.S. dollars / pound in November 10th, up more than 115% since July, strong demand for Chinese processing plants, tight inventories, and strong fund buying to push cotton contracts to the US Civil War. Highest position 。

Data show that the 30 day trading slack, the total turnover of about 16100 hands, compared with 30 days average value of more than 37500 hand low nearly 60%.

Domestic, 30 days Zhengzhou cotton Rebound again. On the basic side, spot prices showed signs of stop, with a drop of less than 100 yuan. Cotton yarn prices continued to fall slightly, seed cotton prices continued to decline, equivalent to lint price less than 24000 yuan. However, from the market information, cotton farmers have been seriously reluctant to sell, and seed cotton has been trading lightly. The future market midline will continue to maintain a high probability of upward trend. But in the late November and the beginning of December, the larger cotton companies in the United States may be under pressure. The recent shock interval 24000-26000 needs consolidation. On the operation, we will do more in 1109 days.