From May 6th to May 7th, the growth of cotton in the Yellow River Basin in Shandong, Hebei, Henan, and other places was relatively good. The early-seeding cotton had grown 4-5 true leaves, and the late-seeding cotton had not yet emerged. It is expected that it will be from May 10 to May 15. Grow real leaves.
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The cost of local agricultural resources this year was basically the same as last year, but the cost of land contracting fell. According to farmers from Dongying, Shandong and Zhangzhou, Hebei, the cost of contracted land is now at 600 yuan/mu, which is 200 yuan less than in previous years.
Recently, the rise in cotton prices in the spot market of the Yellow River Basin has met with resistance, but the overall trend of higher prices for cotton has not changed.
High-quality Xinjiang cotton is still favored. As of the 8th, the “double 29†and “double 30†Xinjiang hand picking cotton prices were 16700-16900 yuan/ton (delivery, gross weight), a slight increase of 50-100 yuan/ton from last Friday. A market official stated that the recent arrival of Australian cotton is limited, and there is not a large quantity of high-quality Xinjiang cotton in the market. Everyone is swift to snap up high-quality Xinjiang cotton. Many traders and textile mills are actively bidding for Xinjiang cotton and are reluctant to sell.
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Property bale cotton sales are sluggish. As of the 8th, the price of 3128-level and 4128-level large-package cotton in Dezhou, Binzhou and other places in Shandong was at 15300-15500 yuan/ton and 14700-14900 yuan/ton, which were flat compared with last Friday. In recent days, the number of large bales of cotton transactions is not large, and some textile companies have a greater resistance to real estate cotton.
Property parcel cotton is unmarketable. At present, the prices of Grade 3 and Grade 4 cotton packets for a 200-type enterprise in Hebei are at 14,900 yuan/ton and 14,500 yuan/ton, which is 100 yuan/ton lower than last week. However, they are still unable to attract downstream manufacturers to see goods and transactions. According to some companies in Hebei and Shandong, they have not received calls from downstream companies for more than 10 consecutive days.
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Recent cotton prices have shifted upwards, while cotton yarn prices have fallen slightly. As the cost of textile companies has risen, profits have been reduced by 300-400 yuan/ton, which does not support the rise of cotton prices. It is expected that the pressure on cotton prices will increase recently.
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