Cotton prices continue to fall sowing in full swing

Recently, Hebei TOKO fine weather, the temperature at 24 degrees Celsius at noon, cotton planting is in full swing, sowing time and basically the same as

last year.
   & Nbsp4 19, the local three bales of cotton price is 29,600 yuan / ton (delivery, gross weight, with votes, the same below), 4 to 29,000 yuan / ton,

compared with 18, down 100 yuan / ton, weak 4 was 28,500 yuan / ton, 5 to 26,400 yuan / ton, compared with 18

Japan down 200 yuan / ton, two Cotton price 30800 yuan / ton (delivery price, the same below), 3 to 30,200 yuan / ton, compared with 18, down 100 yuan / ton,

the current sales of textile products is still optimistic, most enterprises in the 1.5-2 months of inventory, capital

Gold tie serious, some medium-sized enterprises to stop production or limited production, limited production companies turn rate remained at 50%, lint

procurement of essential stagnation; seed cotton prices fell, four 5.82 yuan / kg (lint percentage, 38% moisture regain 9%), weak 4 5.77 yuan / kg,

Than 18, down 0.01-0.02 yuan / kg, only 2-3 at home acquired businesses, the acquisition volume at about 1000 pounds; cottonseed price of 1.65 yuan / kg (oil

12%), compared with 18, fell 0.02 yuan / kg, purchase and sale of light.
On 1 January, cotton and growing correlation between PTA, at present the correlation coefficient reached 0.88, while cotton prices soared again last year to 
boost the role of PTA is particularly obvious. From the current trend of domestic cotton far as the new year and the U.S. cotton acreage in China

Significant growth is expected to appear, while the downstream textile industry inventory pressure, end-start the industry down, companies were cautious on
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cotton procurement, led to the recent sluggish sales of cotton, cotton prices eventually lower, while cotton prices fell on

PTA has some role in the repression.

    Overall, the macroeconomic policies continued to face pressure from slowing demand for the downstream business, and domestic cotton prices is the recent

decline an important factor in PTA prices, the future is still in a relatively bearish fundamentals, the expected price will continue to shock of PTA

Swing down.