建信期货棉花日报-20251029

Industry Information - Reported industry: Cotton [1] - Report date: October 29, 2025 [2] Core Viewpoints - Zhengzhou cotton is in a state of volatile adjustment. The spot market has seen a slight decline, and the downstream demand in the cotton industry has not fully recovered. The new cotton listing and processing peak has brought hedging pressure, and the short - term trading focus is slowly rising [7][8] Summary by Directory 1. Market Review and Operation Suggestions - Market Review: Zhengzhou cotton fluctuated and adjusted. The latest 328 - grade cotton price index was 14,830 yuan/ton, down 3 yuan/ton from the previous trading day. The purchase price of machine - picked seed cotton was between 6.2 - 6.6 yuan/kg. The cost of new cotton was around 14,600 - 15,000 yuan/ton (gross weight). As of October 27, 2025, the national cumulative inspection volume was 1.4407 million tons, an increase of 85,200 tons from the previous day [7][8] - Downstream Market: The domestic cotton yarn market was generally stable, but downstream demand did not fully follow up, and the overall market sales were average. The pure - cotton grey fabric market had sales pressure and insufficient market confidence [7] 2. Industry News - As of October 27, 2025, 985 cotton processing enterprises in the 2025 cotton year processed and conducted notarized inspections on cotton. The national cumulative inspection volume was 1.4407 million tons, an increase of 85,200 tons from the previous day. Among them, the inspection volume in Xinjiang was 1.4277 million tons, an increase of 84,400 tons from the previous day, and the inspection volume in inland areas was 8,900 tons [9] 3. Data Overview - The report provides multiple data charts, including cotton price indices, spot and futures prices, basis changes, spreads between different futures contracts, commercial and industrial inventories, and currency exchange rates, all sourced from Wind and the Research and Development Department of Jianxin Futures [12][14][17]