Domestic sales tend to weaken and cotton short-term correction stabilizes Cotton_Sina Finance_Sina.com

Research report text

Recommended grade:AA

1. Direction:The short-term correction of the 05 contract stabilized, mainly fluctuating within a narrow range. The market outlook will mainly be callbacks and longs, and attention will be paid to the price around 14,000 yuan / ton.

2. Reason:US cotton prices were weighed down by a higher dollar. The 05 contract is waiting for the “Gold, Three, Silver and Four” orders to land. Judging from consumption indicators such as travel, the macro sentiment has picked up significantly and has recently risen. However, from the downstream visits, especially export orders are not as expected, and domestic sales are showing a tendency to weaken. The logic of “strong expectations” in the far-end 09 contract remains unchanged. As a whole, wait for the callback to do long opportunities, and pay attention to whether the market is stable near the price of 14,000 yuan / ton. In the future, the center can be moved closer to the planting end.

3. Disk surface:Zheng MianThe 05 contract closed at 14445 yuan/ton, and the main force of ICE US cotton was 82 cents/lb.

Recommended direction:Long-term holding, recent consolidation, mid-term strong, long-term weak

reason:Supply output after the industrial cycle, consumption growth is cash

1. On February 24, 20,000 tons were listed for bidding and trading, and all transactions were made at 23,980-23,990 yuan/ton;

2. The price reduction in slaughterhouses has not been established, and the stock of private frozen products may increase or stagnate;

3. The short-term futures rose less than expected as the delivery approached;

4. The average spot price in Henan Province on February 24 was 15.73 yuan/kg;

Quotes:The closing price of LH2305 today is 17465 yuan / ton.

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