Weekly Report: Weather Conducive to The Growth of Cotton, The Domestic and Foreign Cotton Prices Fell Slightly

1. Weather conditions are favourable to the growth of cotton

After May 1st, most of the cotton areas in the country have high temperatures, suitable light, and good soil moisture, which is conducive to the steady growth of cotton.

2. The domestic and foreign cotton prices fell slightly

Last week (May 4—May 8), China and the United States expressed their efforts to create a favorable atmosphere and conditions for the implementation of the first phase of the economic and trade agreement, and to achieve positive results. The average weekly price of cotton in CC Index (3128B) was 11,476 Yuan/ton, down 8 Yuan from the previous month. Zhengzhou Commodity Exchange cotton main contract CF009 week average price of 11,477 Yuan/ton, down 21 Yuan month-on-month.