The strong support formed by the country’s temporary purchase and storage has been fully digested by the market. The current market structure will temporarily support the continued rebound of cotton prices. The conversion of macroeconomic control targets will limit Zheng’s cotton rebound.
Entering 2012, Zheng cotton trend is obviously strong, the main CF1205 contract broke through the early oscillation interval. But overall, Zheng Cotton's rebound resistance in the future tends to increase. The primary resistance is the macro-control pressure.
The market has already digested temporary storage and storage support. At present, the temporary cotton purchase and storage of 2011/2012 is proceeding in an orderly manner. On January 13th, it planned to store 123,500 tons of crude oil, actual storage and storage of 11,130 tons, and the ratio of purchasing and storage transactions dropped to 9%, and all Xinjiang banks were released. As of January 13, there have been 2.4,557 tons of cotton collected and stored, of which, the proportion of Xinjiang cotton is about 62%, and the proportion of inland cotton is about 38%.
The above-mentioned collection and storage dynamics show that: 1. Cotton harvesting and storage are gradually ending. Although the temporary purchase and storage plan for the current year will end on March 31, the daily transaction rate has hit a record low since the closing of the transaction and the flow of Xinjiang stocks has returned, indicating that the peak of cotton collection and storage should have passed. Second, the relevant departments have accumulated a great capacity of macro-control. According to the latest estimate of 7.28 million tons of cotton production by the China Cotton Association, this year's cotton reserves accounted for 38.2% of this year's cotton production. By the end of the temporary storage on March 31, the proportion will continue to increase. In 2008/2009, the cotton collection and storage accounted for 35.1% of the cotton production in the current year. This year, the proportion of storage and storage has further increased, which has strengthened the country’s macroeconomic control capabilities.
The technical chart shows that Zheng Cotton faced strong adjustment pressure on the 1250-22000 frontline. The main contract CF1205 began to oscillate after reaching a record high of 21450 on January 12. This technical trend shows that the market price may have been digested, reflecting the support formed by the temporary purchase and storage.
The current market structure unfavorable rebound in cotton prices Recently, although the domestic cotton spot market temporarily stabilized, it is still weak compared with Zheng cotton. The current cotton purchase price, which is equivalent to the estimated cost of lint, is around 18,870 yuan/ton, and only slightly above the annual low. The spread between Zheng cotton spot monthly contract CF1201 and China's cotton price index narrowed from the previous 1000 yuan/ton to 800 yuan/ton, and the margin of premium narrowed. However, the trend of the spread between Zheng cotton main contract CF1205 and China's cotton price index showed a reverse movement, and its premium increased from 1,500 yuan/ton in the previous period to 2,000 yuan/ton in the near future, and the premium range tends to expand. If you do not get the spot market in the future, this trend will not continue.
In addition, the spreads inside and outside cotton remain high. At present, China's imported cotton price index under the sliding tariff rate has been reported at 17,770 yuan/ton, which is more than 1,500 yuan/ton more than China's cotton price index. The domestic and foreign spreads are still at historically high levels, indicating that there are still huge potential import pressures that will hinder Zheng Cotton from continuing to rebound.
The macro-control objectives have been transformed into potential pressures. China is a major cotton producing country, and it is also a textile and textile powerhouse. In addition to protecting the basic income of cotton farmers, the sustainable development of the textile industry must also be considered by macro-control departments. At present, the huge cotton price difference between domestic and foreign producers due to storage has greatly weakened the international competitiveness of textile companies. The next goal of the state's macro-control will be to turn to protect the international competitiveness of textile companies. China Cotton Information Network recently stated that the first batch of slip tax quotas had been approved in 2012 and will be issued to enterprises in the near future. If this is the case, the current high level of cotton's internal and external spreads should be further narrowed, and Zheng's rebound space will naturally be curbed.
At present, the bearish outlook for global cotton supply and demand has increased the necessity and urgency of the conversion of macroeconomic control objectives. The US Department of Agriculture’s January supply and demand report released last week lowered China’s expected consumption by 2.2%, adjusted for end-of-period inventory and ending stocks consumption ratios by 9.7% and 12.2%, respectively; lowered global expected consumption by 0.5%, ending stocks and closing balances. The inventory consumption ratio was adjusted up by 1.2% and 2.4% respectively. The report shows that China's and global cotton supply and demand tend to be relaxed.
Based on the above analysis, multiple factors have imposed constraints on Zheng cotton rebound. Investors are advised to cautiously chase prices. Before the 21500 is turned into technical support, more than one single should be reduced or left. Selling hedging should pay attention to the trend of the macro-control department, paying close attention to the price difference between domestic and foreign cotton, current price difference, and changes in technology trends, and try to sell short before the CF1209 contract breaks above 22,000. As the futures price is far away from the temporary closing price, buyers of hedging should wait and see.
Entering 2012, Zheng cotton trend is obviously strong, the main CF1205 contract broke through the early oscillation interval. But overall, Zheng Cotton's rebound resistance in the future tends to increase. The primary resistance is the macro-control pressure.
The market has already digested temporary storage and storage support. At present, the temporary cotton purchase and storage of 2011/2012 is proceeding in an orderly manner. On January 13th, it planned to store 123,500 tons of crude oil, actual storage and storage of 11,130 tons, and the ratio of purchasing and storage transactions dropped to 9%, and all Xinjiang banks were released. As of January 13, there have been 2.4,557 tons of cotton collected and stored, of which, the proportion of Xinjiang cotton is about 62%, and the proportion of inland cotton is about 38%.
The above-mentioned collection and storage dynamics show that: 1. Cotton harvesting and storage are gradually ending. Although the temporary purchase and storage plan for the current year will end on March 31, the daily transaction rate has hit a record low since the closing of the transaction and the flow of Xinjiang stocks has returned, indicating that the peak of cotton collection and storage should have passed. Second, the relevant departments have accumulated a great capacity of macro-control. According to the latest estimate of 7.28 million tons of cotton production by the China Cotton Association, this year's cotton reserves accounted for 38.2% of this year's cotton production. By the end of the temporary storage on March 31, the proportion will continue to increase. In 2008/2009, the cotton collection and storage accounted for 35.1% of the cotton production in the current year. This year, the proportion of storage and storage has further increased, which has strengthened the country’s macroeconomic control capabilities.
The technical chart shows that Zheng Cotton faced strong adjustment pressure on the 1250-22000 frontline. The main contract CF1205 began to oscillate after reaching a record high of 21450 on January 12. This technical trend shows that the market price may have been digested, reflecting the support formed by the temporary purchase and storage.
The current market structure unfavorable rebound in cotton prices Recently, although the domestic cotton spot market temporarily stabilized, it is still weak compared with Zheng cotton. The current cotton purchase price, which is equivalent to the estimated cost of lint, is around 18,870 yuan/ton, and only slightly above the annual low. The spread between Zheng cotton spot monthly contract CF1201 and China's cotton price index narrowed from the previous 1000 yuan/ton to 800 yuan/ton, and the margin of premium narrowed. However, the trend of the spread between Zheng cotton main contract CF1205 and China's cotton price index showed a reverse movement, and its premium increased from 1,500 yuan/ton in the previous period to 2,000 yuan/ton in the near future, and the premium range tends to expand. If you do not get the spot market in the future, this trend will not continue.
In addition, the spreads inside and outside cotton remain high. At present, China's imported cotton price index under the sliding tariff rate has been reported at 17,770 yuan/ton, which is more than 1,500 yuan/ton more than China's cotton price index. The domestic and foreign spreads are still at historically high levels, indicating that there are still huge potential import pressures that will hinder Zheng Cotton from continuing to rebound.
The macro-control objectives have been transformed into potential pressures. China is a major cotton producing country, and it is also a textile and textile powerhouse. In addition to protecting the basic income of cotton farmers, the sustainable development of the textile industry must also be considered by macro-control departments. At present, the huge cotton price difference between domestic and foreign producers due to storage has greatly weakened the international competitiveness of textile companies. The next goal of the state's macro-control will be to turn to protect the international competitiveness of textile companies. China Cotton Information Network recently stated that the first batch of slip tax quotas had been approved in 2012 and will be issued to enterprises in the near future. If this is the case, the current high level of cotton's internal and external spreads should be further narrowed, and Zheng's rebound space will naturally be curbed.
At present, the bearish outlook for global cotton supply and demand has increased the necessity and urgency of the conversion of macroeconomic control objectives. The US Department of Agriculture’s January supply and demand report released last week lowered China’s expected consumption by 2.2%, adjusted for end-of-period inventory and ending stocks consumption ratios by 9.7% and 12.2%, respectively; lowered global expected consumption by 0.5%, ending stocks and closing balances. The inventory consumption ratio was adjusted up by 1.2% and 2.4% respectively. The report shows that China's and global cotton supply and demand tend to be relaxed.
Based on the above analysis, multiple factors have imposed constraints on Zheng cotton rebound. Investors are advised to cautiously chase prices. Before the 21500 is turned into technical support, more than one single should be reduced or left. Selling hedging should pay attention to the trend of the macro-control department, paying close attention to the price difference between domestic and foreign cotton, current price difference, and changes in technology trends, and try to sell short before the CF1209 contract breaks above 22,000. As the futures price is far away from the temporary closing price, buyers of hedging should wait and see.
The Tattoos are funny and Cool ,Easy to apply and remove. Non-toxic.
Great gift for parties and favor bags for birthday party,party games ,decorations ,Also great for kids all ages!.
Kids love temporary tattoos because its always fun to show your colors - whether you like to wear a animal on your cheek or a kitty on your hand, everyone can see what makes you smile. Both you and your children will love these tattoos. a perfect party or sleepover activity that will get everyone into the fun!
We do all the kids of tattoo like glitter tattoo,metallic tattoo,glow in the dark tattoo,scratch tattoos.
Tattoo Activity,Transfer Tattoo Activity,Water Transfer Tattoo,Glitter Tattoo Activity
Ningbo Yonghuai Import And Export Co., Ltd. , http://www.nbgoldenshine.com