下游走货边际好转 短期棉花期货价格或有向上动能

Core Viewpoint - The domestic cotton futures market is experiencing a strong upward trend, with prices showing fluctuations and an increase of approximately 1.42% as the demand season approaches [1] Group 1: Market Performance - Cotton futures main contract opened at 14,095.00 CNY/ton, reaching a high of 14,340.00 CNY and a low of 14,090.00 CNY during the trading session [1] - The overall performance of the cotton market is characterized by a strong upward trend, indicating positive market sentiment [1] Group 2: Institutional Insights - Zhongcai Futures notes that the demand season is approaching, with textile enterprises increasing their operating rates and a slight decrease in cotton yarn inventory, although overall inventory remains high [1] - Nanhua Futures indicates that the speed of depleting old cotton is relatively fast, with an increase in import quotas, but the actual quantity remains low, aligning with expectations [1] - Wukuang Futures highlights that despite general consumption in the downstream market being average, entering the "golden September and silver October" consumption peak, combined with historically low domestic cotton inventory, suggests a potential marginal improvement in the fundamentals [1]