Report Information - Industry: Cotton [1] - Date: July 31, 2025 [2] - Researchers: Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, Liu Youran [3] Market Review and Operation Suggestions - Zhengzhou cotton decreased in position and price. The latest 328 - grade cotton price index was 15,580 yuan/ton, down 29 yuan/ton from the previous trading day. Different regions and varieties of cotton had different sales price bases and quotes. The pure - cotton yarn market's quotes were stable, and the transaction price was approaching the quote. The all - cotton grey fabric market had weak demand, and the fabric price was stable and weak, with only partial improvement in some areas [7]. - Macroscopically, the negotiation on the suspension of tariff extension between China and the US was ongoing. In the international market, as of the week ending July 27, 2025, the good - to - excellent rate of US cotton was 55%, showing a slight decline. The budding, squaring rates of US cotton indicated a slower growth progress, and the outer market was oscillating within a range. In the domestic market, the actual sown area increased year - on - year, with an expectation of a bumper harvest. The downstream industry's demand was still weak, and the 9 - 1 spread continued to converge [8]. Industry News - As of July 24, the deliverable No. 2 cotton futures contracts on ICE were 21,617 bales. According to CFTC data, as of July 22, 2025, the net long - position ratio of ICE cotton futures funds was - 18.94%, up 3.97 percentage points week - on - week [9]. Data Overview - The report presented multiple data charts, including those related to China's cotton price index, cotton spot and futures prices, cotton basis changes, various spreads, cotton commercial and industrial inventories, and exchange rates such as the US dollar against the Chinese yuan and the Indian rupee [17][18][23]
建信期货棉花日报-20250731
Jian Xin Qi Huo·2025-07-31 01:00