Xinjiang: Cotton processing has reached 60%, but new cotton sales have not improved
As of November 29, Xinjiang’s new cotton processing volume has reached 3.44 million tons, and the public inspection volume is about 3.04 million tons. This year’s lint warehouse inspection quality indicators have improved significantly compared with the previous year, but local cotton companies are not happy at all. .
Due to the rush to harvest during the acquisition period, the cost remains high. The lint cost of more than 23,000 yuan/ton is inverted with the main contract price of Zheng Cotton. There has been no suitable opportunity for hedging. Recently, there have been new changes in the foreign epidemic situation, and many countries have issued Due to strict prevention and control measures, the industry’s pessimism about later consumption has intensified, and downstream procurement has become more cautious.
At present, the spot sales of Xinjiang new cotton have not yet improved, and the impact of the African mutant strain on the commodity market still needs to be closely watched.
AAA
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