ICE No Deep Drop Space High Grade Cotton Gravity Pfer

In June 30th, USDA released

The planting report showed that the actual sown area of US cotton reached 10 million 23 thousand acres in 2016/17, which was significantly higher than the 9 million 300 thousand acres and 9 million 560 thousand acres that were announced in January and March, up 16.81% over the previous year.

Factory collapse, ICE futures rebounded momentum was suppressed.

Analysis of the relevant stakeholders, ICE main contract does not have room for deep callbacks, the short line will still be in 65-67 cents / pound body consolidation, fell back to 62 cents / pound and even 60 cents / pound is only short and use.

业的“一厢情愿”，具体原因为：一、2015/16年度美棉已全面“超卖”，而目前全球高等级棉花均处于供应短缺状态，短线只有澳棉可供买方选择;二、中国国储棉日均轮出量受纤检、仓库等作业水平“不给力”的制约越来越大，除周一外其它时间2万吨难以保证，国储棉轮出已连续三个交易日100%成交，日均交价也强势突破13000元/吨，但相关部门似乎仍在观察、仍在思考，给予内外盘期货强力支撑;三、印度国内棉花在缺口和资金的热炒下再次飙涨，6月底S-6、J34的轧花厂出厂价已分别达到80.65美分/磅、80美分/磅，较5月初整体上涨近12美分/磅，涨幅17.57%，ICE期货仓单甚至成了价格“洼地”;四、英国脱欧利空消化，美元指数大跌引发大宗商品(含农产品)强劲反弹，包括中国股市在内全球经济似乎暂时再次脱离谷底，一片飘红。

Since the port 2015 and 2016, Australia cotton inquiry, pick up compared to 4, May warmer, on the one hand, ICE futures high oscillation (high point 66.64 cents / pound, low point 63.28 cents / pound) and the India cotton price "one muscle" type of soaring influence, port price, the US cotton, India and West Africa cotton, Australian cotton and other quotation continued high high, Australia cotton and 2015/16 cotton price difference fell to 2-3 cents / pound, lower than Uzbekistan cotton 0.3-0.5 cents / pound, but Australia cotton in quality, spinnability and three silk, consistency and other indicators in a leading position, favored by the spinning enterprises; on the other hand, the high grade cotton which can be purchased for textile enterprises in 6-8 months is only Australian cotton. According to the cotton importers in Qingdao, Zhangjiagang and Guangzhou, the middle of June

The 2016 cotton shipping date in Brazil is also the earliest 8/9 month. India's domestic S-6, J34, MCU5 and the Far East Main Port CNF offer "hang upside down" about 5 cents / pounds. India ginning plants and exporters not only do not export quotations, but also do not plan to execute the contracts signed in 3 and April. Although there are still some parts of 2015/16 that can be selected in the 3 and April, the high price and low quality phenomenon is outstanding. In addition, the weather conditions in Xinjiang cotton area or the Yangtze River and the Yellow River River Basin cotton area are not ideal.

From the survey, as of the end of June, the import quota of cotton in the 1% tariff of 2016 has not been used in the year of about 50-55 tons, and cotton and 2016/17 cotton and Ukrainian cotton are the focus of buyers' attention and purchase.

The sales focus of Australia cotton, Brazil cotton and West Africa cotton has begun to shift to Vietnam, India, Indonesia, Bangladesh and Turkey. The proportion of China's market continues to decline. On the one hand, the competition between the cotton mills in Vietnam, India and other countries in the middle and high yarn market is becoming increasingly fierce. The proportion of cotton yarn with C40S and above has increased rapidly, and the demand for high-quality and three wire machine has increased explosively, which is contrasted with the sharp decline of Chinese enterprises' signing purchase for us cotton. On the other hand, Chinese textile enterprises in Vietnam and Southeast Asian countries are constantly warming up the demand for cotton, cotton and other products in Australia and India, Vietnam, Pakistan and other countries, and the port's bonded business has gradually developed, and the attraction of imported cotton to Southeast Asian countries has increased. An international cotton trader said that cotton in 2016 and 2017