8bitarcade| Cotton-Units per unit area and output are expected to increase, and inventories show growth trend

According to the U.S. Department of Agriculture (USDA),8bitarcadeFrom April 26 to May 2, 2024, the contract volume of US upland cotton exports in 2023 March 24 was 57590 tons, a significant increase over the average of the previous week and the previous four weeks; and the shipment volume of US upland cotton exports in 2023 Universe 24 was 56659 tons, an increase of 39% over the previous week and 2% over the average of the previous four weeks. When the week of U. S. cotton export shipments and contracts increased month-on-month, the data performance was strong, Lido cotton market. In the domestic market, most of the new cotton is in the process of emergence and growth, the weather in the producing area is good for growth, the per unit yield and yield are expected to increase, and the negative sentiment in the market is dominant. On the supply side, the commercial inventory of cotton is still higher than that of the same period last year, and imports have increased, and supply is still abundant. The inventory of textile enterprises showed an increasing trend, mainly with a decline in startup. However, the enthusiasm of picking up goods downstream continues to weaken, and the enterprise inventory pressure is expected to show gradually in the later stage. Overall, yarn processing profits are meagre, and supply is greater than demand, short-term positive support is insufficient, cotton yarn prices are still weak and volatile in the future.

Researcher: Cai Yuehui

Futures qualification number: F0251444

Futures investment consulting certificate number: 20013101

Assistant researcher: Li Qiurong

Futures qualification number: F03101823

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