Group 1: General Information - Reported industry: Cotton [1] - Report date: November 5, 2025 [2] - Researchers: Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, Liu Youran [3] Group 2: Market Review and Operational Suggestions Market Review - Zhengzhou cotton prices faced downward pressure and declined. The latest price index for Grade 328 cotton was 14,841 yuan/ton, a decrease of 18 yuan/ton from the previous trading day. Spot prices for 2025/26 southern Xinjiang hand - picked cotton and northern Xinjiang machine - picked cotton were mostly between 14,600 - 14,800 yuan/ton (public standard), with some lower prices around 14,500 - 14,600 yuan/ton. The basis for different qualities of cotton varied [7]. - The trading of pure cotton yarn was lackluster. High - count yarn sales were okay, while low - count yarn sales were worse than the previous two weeks. The fabric market had low production and sales, with no large orders and difficulties in obtaining export orders [7]. Operational Suggestions - In the domestic market, the purchase of Xinjiang seed cotton was mostly ending. The cost of new cotton was relatively high, providing support for Zhengzhou cotton prices, but there was also hedging pressure at high prices. The downstream demand was weak but had some resilience, and the inventory of finished products was not high. With the Sino - US trade in a period of easing, the export competitiveness of textile and clothing enterprises might improve. The trading center of cotton prices was expected to slowly move up while the hedging pressure from the peak season of new cotton listing and processing needed to be digested [8]. Group 3: Industry News - As of October 30, 2025, the national new cotton picking progress was 87.1%, 1.9 percentage points higher than the same period last year and 5.9 percentage points higher than the average of the past four years. The national delivery rate was 90.4%, 3.5 percentage points higher than last year and 15.2 percentage points higher than the four - year average. The national processing rate was 39.9%, 0.5 percentage points higher than last year but 1.5 percentage points lower than the four - year average. The national sales rate was 14.2%, 9.3 percentage points higher than last year and 11.0 percentage points higher than the four - year average [9] Group 4: 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, spreads between different cotton futures contracts, cotton commercial and industrial inventories, warehouse receipt totals, and exchange rates such as the US dollar against the Chinese yuan and the Indian rupee [17][18][29]
建信期货棉花日报-20251105
Jian Xin Qi Huo·2025-11-05 01:54