Financial crisis caused a significant slowdown in consumption in 2008 in Zhengzhoucotton prices, economic recession in the short term it is difficult to avoid the issue of demand in 2009 is still the most crucial issue in domestic agricultural means of production price index for low operation and massive State Reserve Cotton supply pressures and other factors under the influence in 2009 in Zhengzhou cotton prices will continue downward oscillation.

2008 Zhengzhou cotton futures market price movements can be basically divided into three phases, the first from January 2, 2008 to March 5, 2008, Zheng cotton goods for prices from 14,100 yuan / ton oscillations up to 15,355 yuan / tons, up 8.9 percent, and in the last two significant increases in average daily trading more than 2%. This stage is mainly due to rising continuously do more speculative funds, the market deviate from the fundamentals, March 3, 2008 New York Cotton futures positions have been more than 300,000 contracts, hitting a new historical high; the second phase from 2008 3 5 months to November 12, 2008, futures prices from 15,000 yuan / ton oscillation fell to 10,260 yuan / ton, down 31.6 percent, and in the last week appeared in three trading days limit, at this stage down the main The reason is that the U.S. financial crisis caused by sluggish global demand, the domestic cotton market is much larger than the supply resulting in the pattern of demand for futures, spot prices or a fall; The third phase, from November 13, 2008 to December 30, 2008, futures prices from 10,350 yuan / ton and climb to 11,615 yuan / ton, up 12 percent of this phase of oscillation is mainly due to upstream countries in order to protect the interests of cotton growers, cotton industry chain to ensure the healthy and stable development, continuous introduction of policies to shore up the market.

The problem is the impact of the demand for cotton in 2008 the impact of price movements, the most critical issues. Increased unemployment, investment in the failure of many sharp decline in consumer spending power, the economic recession in advance so that the consumer has developed the concept of consumer confidence has been a serious impact on consumer willingness to drop the direct performance of the global textile and apparel market to reduce. According to the U.S. Department of Labor statistics, in 2008 January-September, the United States Clothing & Accessories category of goods monthly average increase in total retail sales of less than 0.8% over the previous year fell 5.7 percentage points, of which the financial crisis surfaced 7-9 months, the U.S. clothing retail sales increased by only 0.24 percent year-on-year is 2002, its lowest level since September month is a negative growth of 0.36 percent year-on-year; July-August, the EU clothing retail sales are on a growth of only 1.5% for nearly 5 years, the lowest increase over the same period; Japan the second quarter of the residents clothing consumption actual expenditures fell 7.8 percent, is rare in recent years, a substantial shrinking demand; month in September, the United Kingdom, Canada and other developed markets of all retail sales of clothing year-on-year negative growth .

The domestic textile industry, a major area of loss. The continued appreciation of the yuan, rising labor costs led to the textile industry profit margins have been significantly compressed or even suffer losses, and reduced demand for foreign markets has forced many domestic textile enterprises to halt the operation of bankruptcy. According to the national cotton market detection system to collect textile finishing economic operation data show that in January 2008 -11 months, the national textile enterprises above designated size 47,232, a loss of 9654, 20.44 percent loss over the same period last year increased 3.47 percentage points, above-scale textile enterprises face a loss of more than 20% of the major provinces and cities are Beijing, Shanghai, Anhui, Tianjin, Liaoning, Guangdong and Zhejiang, the biggest loss in Beijing for 44.92 percent more than the same period last year expanded 3.54 percentage point, above-scale textile Enterprises face losses of more than 5 percentage points year-on-year over the main cities Shanghai, Guangdong and Zhejiang, a loss of face for 37.84%, respectively, 25.85% and 25.15%; the national textile enterprises above designated size amounted to a loss of 22.75 billion yuan, an increase of 99.85 % over the same period last year to raise 85.51% percentage points, of which Jiangsu, Zhejiang, Liaoning, Guangdong textile enterprises above designated size of the total losses of loss-making enterprises more than three billion yuan, Liaoning, Fujian, Henan, Zhejiang, Jiangxi, Hubei and Shanghai and other provinces and cities the textile industry in the total losses of loss-making enterprises than the same period last year increased more than 100%.

Detection of the national cotton market system in the 9 months of cotton production based on the findings, in October 2008 in early November to the use of statistical sampling supplemented by telephone, fax case of cotton production across the country once again launched a large-scale survey, which , sample survey involving 15 cotton-producing provinces (autonomous regions), 80 cotton counties (cities, Mission Field), 4436 cotton farmers, the sampling area of 56.8 hectares, the survey has been amended in some provinces (regions) of cotton production data, the National Cotton output during the rainy season for the 7,824,900 tons, up 0.82 percent reduction in planting area of 8687.73 mu, up 2.17 percent reduction, the average yield was 90.07 kilograms / acre, up 1.37 percent raise.