December 29 cotton morning Comments
Cotton (11835,75.00,0.64%,) (fundamentals): Last week, U.S. cotton exports report showed a slight increase in exports but still showed a low ebb;.last week to increase the benefit under the influence of seed cotton prices, lint prices rose slightly, accounting is expected to yield 1 / 3 of the new cotton to the marketstrong support, the recent domestic cotton price bottomed stabilized; import enterprises waiting for January 1% tariff quotas issued, demand remains sluggish market weakness, the most in China next year’s cotton price is expected to reduce market support it needs to maintain a long downturn in the market will bear the pressure. (Technical): After the holidays more dealers departure, NYBOT Cotton moderate decline Friday closing. Zheng continuation of last week rebounded cotton market, the price on-line stand on the 60-day moving average, the recent favorable policies to support the next phase of price strength, but the transaction does not appear substantial volume, up kinetic energy is obviously insufficient, short-term market trend will be maintained concussion, midline still have to wait .