Cotton Prices Increase After The Holiday But Are Subject To Demand Dragging.

According to the price monitoring of the business community, the average price of lint 3128B lint in the domestic spot market was 12610 yuan / ton as of October 9, 2019, up 0.17% yuan or 22 yuan compared with the previous day.

In October 9th, Zheng cotton main contract 2001 contract price continued to rise, the highest reported 12365 yuan / ton, the lowest reported 12150 yuan / ton; closing price 12320 yuan / ton, compared with the previous trading day price rise 1.61%, 621580 hands trading volume, 641768 positions.

In September 30th, when the end of the cotton spinning came to an end, a total of 1 million 162 thousand tons of cotton were sold on sale, including 570 thousand tons of Xinjiang cotton and 592 thousand tons of real estate cotton. In 2019, the average price of the central cotton reserve was 12633 yuan / ton, and the price of standard grade (3128B) was 13902 yuan / ton. The highest price was 15930 yuan / ton, and the lowest price was 10750 yuan / ton. Among them, the average price of Xinjiang cotton is 12794 yuan / ton, the average increase is 707 yuan / ton, the average price of real estate cotton is 12444 yuan / ton, and the average increase is 425 yuan / ton.

The new round of Sino US trade negotiations approached, and US cotton futures recovered sharply last week. In October 5th, US cotton futures closed 61.76 cents, up 2.18% during the week.

Business analysts believe that cotton prices rose in the past two days, due to the suspension of the National Day holiday, the increase in cotton prices and the withdrawal of cotton reserves from the stage. However, cotton market consumption is expected to decline again, dragged down by demand, and cotton prices are expected to fall.