US Cotton Diving Led Zheng Cotton To Hit 3 And A Half Years Low

< p > < strong > high inventory, abundant supply < a href= "http:// www.sjfzxm.com/news/index_c.asp" > ZHENG Mian < /a > weak and hard to change < /strong > /p >
< p > analysts pointed out that at present, China's Cotton (14795, -250.00, -1.66%) occupies nearly 60% of the world's final inventory, and China's national cotton reserves have reached about 13000000 tons. According to industry analysts, this inventory may take several years to reduce to a reasonable level. < /p >
< p > > a href= "http://? Www.sjfzxm.com/news/index_c.asp" > textile industry < /a > into the off-season, textile enterprises limited production and shutdowns, procurement is light. Cotton prices follow the decline of cotton, the expansion of business losses, lack of confidence in the market outlook. Under the influence of multiple factors such as competition, capital and market, the textile industry is still facing great pressure, and domestic cotton demand is hard to recover in a short time. < /p >
< p > < strong > > the United States has been in good weather for many days. New York a href= "http:// www.sjfzxm.com/news/index_c.asp" > cotton < /a > futures diving > /strong > /p >
Two months ago, a drought threatened the US's output of the world's largest cotton exporter and its stock fell to its lowest level in 20 years. P Then, the largest cotton growing area in the United States began to rain in Dezhou, prompting a sharp increase in planting area. The government predicted that inventory will reach a six year high before harvest season in 2015. < /p >
< p > Plexus Cotton pointed out in the report that the weather "stunned" reverses or promotes the US cotton output to grow by 32%. Cotton also hit its highest price in 25 months in March. Today, it is next to soybean meal (3359, 15, 0.45%) in all commodities. < /p >
< p > supply increase will help global cotton supply oversupply for fifth consecutive years, and then reduce the production cost of garment manufacturers. According to Peng Bo's survey of 7 analysts, cotton futures will drop 6.6% to $0.677 a pound by the end of the year, the lowest in June 2012. < /p >
< p > cotton futures have fallen by 14% this year. Yesterday, the ICE futures market in New York reported US $0.7247, down 26% from 0.9735 US dollars in March 26th. The Bloomberg commodity index, which covers 22 raw materials, has risen 6.8% since the end of last year. In the same period, MSCI's global stock index rose 5.8%, and the Bloomberg US Treasury index rose 2.8%. < /p >