Under the double attack of domestic and foreign troubles, Zheng cotton air filled, the main contract fell for the fifth consecutive day, with the gradual weakening of the strength of the bulls, bottoming out to a more than 20-month low of 13280 yuan, the final decline of 2.32%.

At present, the weather conditions in the producing areas of Xinjiang are conducive to the growth of new cotton, and the overall growth of cotton is relatively good, and it has entered the stage of fruit-bearing peach. Cotton farmers generally believe that the possibility of extreme disaster weather in August is very small, the market has a strong forecast for the new cotton harvest, and the New Year market supply side is further relaxed. Follow up on the change of cotton seedling situation and the improvement of demand. The traditional gold nine silver ten season is coming, the downstream market vaguely came the news of autumn and winter orders, but the order demand is slow to start, coupled with the impact of high temperature weather, some factories are still in the state of production suspension. The production and marketing situation of textile enterprises is depressed, the opening probability of textile enterprises maintains a downward trend, the opening probability of large-scale factories is relatively high, and the opening probability of small and medium-sized textile enterprises remains low. Some textile enterprises are still in a state of loss, even if the futures price continues to be low, textile mills still uphold the mentality of buying up and not buying down, continue to maintain a wait-and-see mentality, and take goods is still cautious. In overseas markets, concerns about a possible global recession and the outlook for overall cotton demand remained, but ICE cotton rebounded after hitting a more than four-year low on Wednesday thanks to higher crude oil prices. The ICEDecember contract rose 0.43 cent, or 0.6 percent, to settle at 67.73 cents a pound. Global supply is abundant, downstream demand is not prosperous, cotton prices fluctuate down. Pay attention to the rebound opportunities brought by weather changes and foreign periodic order demand.

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