Market Overview - The Brazil CEPEA/ESALQ cotton price index reported at 65.72 cents per pound, an increase of 0.81% from the previous day and 3.81% from the same period last month [1] - As of January 3, Brazil's cotton planting rate reached 31.2%, up from 25.1% the previous week and slightly above last year's 30.5%, with a five-year average of 20.9% [1] Cost Analysis - The total cost of planting machine-harvested cotton in Northern Xinjiang for 2025 is projected to be 2962 yuan per mu, a decrease of 40 yuan per mu year-on-year, representing a reduction of 1.3% [1] Institutional Insights - According to Wenkang Futures, the reduction in cotton planting area in Xinjiang was anticipated by the market, and the recent rise in Zheng cotton prices may lead to increased price volatility. The supply-demand relationship is currently balanced, with increased downstream operating rates and limited imports, suggesting a favorable outlook for potential buying opportunities [3] - Micron Futures noted that the cotton market is maintaining a strong oscillating trend, influenced by surrounding commodity markets. There is optimism regarding textile exports and domestic sales, but breaking through the current price range will require validation of consumption in the new year and confirmation of supply conditions [4]
供需关系处于平衡状态 棉花上行至近期高位
Jin Tou Wang·2026-01-07 06:00