12月31日，进口棉到港均价（M指数）72.75美分/磅，较30日持平；折1%关税进口成本（不含港杂费） 12514元/吨，折滑准税进口成本（不含港杂费）13604元/吨；国内3128棉均价（B指数）15511元/吨，较 30日涨11元/吨。新疆棉山东到厂价3128B级15620元/吨，较30日涨15元/吨。国家棉花基差指数 CNCottonJ（CF2605）918元/吨，较12月30日涨1元/吨。 12月31日美国洲际交易所（ICE）棉花期货行情 北京时间1月3日，美国洲际交易所（ICE）棉花期货价格小幅走低，开盘报64.28美分/磅，现报63.87美 分/磅，跌幅0.67%，盘中最高触及64.44美分/磅，最低下探63.68美分/磅。 【棉花市场消息速递】 棉花期货行情回顾： 美国农业部：截至12月18日当周，美国2025/2026年度陆地棉出口净销售为18.3万包，前一周为30.5万 包；2026/2027年度陆地棉净销售0.1万包，前一周为1.5万包；美国2025/2026年度陆地棉出口装船14.7万 包，前一周为13.4万包。 品种 开盘价 最高价 最低价 收盘价 美棉花 64.32 64.53 6 ...

Core Viewpoint - Cotton futures have shown a strong upward trend, with prices increasing for five consecutive weeks, reaching a high of 14,550.00 yuan/ton, marking a 2.36% rise and the highest level since October of the previous year [1] Group 1: Market Conditions - As of December 24, the imported cotton cost within the quota (1% tariff) was 12,863 yuan/ton, which is 2,408 yuan/ton lower than the domestic standard-grade cotton price. The cost of imported cotton with sliding scale tax was 13,892 yuan/ton, 1,379 yuan/ton lower than domestic prices [2] - The U.S. cotton export sales totaled 319,649 bales for the week ending December 11, with 304,689 bales for the 2025/26 season and 14,960 bales for the 2026/27 season. This marked the highest net sales since November 6, significantly exceeding the previous week's 153,606 bales [2] Group 2: Industry Insights - There is an expectation of reduced cotton planting area in Xinjiang, potentially decreasing by 5-7 million mu, which is over 10%. This reduction is anticipated to lead to a corresponding decrease in production, supporting future contract prices [4] - Despite a good harvest of domestic cotton this year, the sales progress of cotton from ginning factories in both southern and northern Xinjiang is reported to be rapid, with commercial inventories not significantly exceeding last year's levels [4] - The overall sentiment in the commodity market is optimistic, contributing to the steady rise in cotton futures and spot prices. However, the continuous increase in cotton prices is negatively impacting the profits of downstream yarn manufacturers, and an increase in cotton yarn imports suggests that supply remains ample [4]

Core Viewpoint - The cotton futures prices on the Intercontinental Exchange (ICE) are experiencing a strong fluctuation, with a slight increase noted on August 18, 2023, indicating market volatility and potential trading opportunities in the cotton sector [1]. Group 1: Cotton Futures Market Overview - On August 18, 2023, ICE cotton futures opened at 67.35 cents per pound and are currently at 67.76 cents per pound, reflecting a 0.41% increase [1]. - The intraday trading range for cotton futures on August 18 saw a high of 67.79 cents per pound and a low of 67.32 cents per pound [1]. Group 2: Recent Market Trends - On August 15, 2023, the ICE cotton futures closed at 67.47 cents per pound, down by 0.33% from the previous trading session [2]. - As of August 14, 2023, the inventory of imported cotton at major ports decreased by 4.83% week-on-week, totaling 305,300 tons [2]. - The number of cotton futures warehouse receipts on the Zhengzhou Commodity Exchange was reported at 8,078, a decrease of 117 from the previous trading day [2]. Group 3: Export Sales Data - The USDA's weekly export sales report indicated that 142,600 bales of cotton were exported, primarily to Vietnam, Pakistan, Turkey, Mexico, and Bangladesh [2]. - For the 2025/2026 marketing year, the total net sales of upland cotton are reported to be 242,000 bales [2].