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棉系数据日报-20250730
Guo Mao Qi Huo·2025-07-30 08:55

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report In the context of the expected high yield of new cotton crops and the reality of the shortage of old - crop inventories, the pattern of near - term strength and long - term weakness is prominent. From late July to early August is a window period for multiple policies and industry events. The content of domestic policy meetings, the progress of Sino - US trade negotiations, the actualization of the high yield of new cotton, whether the import sliding - duty quota will be increased and the magnitude of the increase all have a significant impact on the Zhengzhou cotton outlook, especially the increase of the import sliding - duty quota has a greater impact on the supply - demand of old crops and near - term contracts [3]. 3. Summary by Relevant Items Domestic Cotton Futures - On July 29, CF01 was 14025, down 40 or - 0.28% from July 28; CF09 was 13925, down 150 or - 1.07% from July 28; CF09 - 01 was - 100, down 110 from July 28 [3]. Domestic Cotton Spot - On July 29, the price in Xinjiang was 15431, down 42 or - 0.27% from July 28; in Henan it was 15634, down 46 or - 0.29%; in Shandong it was 15562, down 48 or - 0.31%. The Xinjiang - main continuous basis was 1506, up 108 from July 28 [3]. Domestic Cotton Yarn Futures and Spot - On July 29, the domestic cotton yarn futures CY was 19995, down 240 or - 1.19% from July 28. The C32S price index of domestic cotton yarn spot was 20720, down 60 or - 0.29% from July 28 [3]. US Cotton Spot - On July 29, the CT price was 68 USD/ pound, unchanged from July 28. The arrival price was 77.60, up 0.1 or 0.13% from July 28. The 1% quota pick - up price was 13715, up 17 or 0.12% from July 28. The sliding - duty pick - up price was 14425, up 5 or 0.03% from July 28 [3]. Spread Data - On July 29, the yarn - cotton spread (futures) was 5970, down 200 from July 28; the yarn - cotton spread (spot) was 710, down 12 from July 28; the domestic - foreign spread (spot) was 1847, down 65 from July 28 [3].