Weekly Report: Textile Into the Off-Season, Domestic Cotton Prices Fell

1. Cotton Prices at Home and Abroad are Mainly in Decline

As the temperature rises, the domestic textile market has entered the traditional off-season, and the production of enterprises has contracted. Cotton prices at home and abroad have fallen after the us passed a so-called Xinjiang law last week, raising fresh tensions between China and the US. The weekly average price of China cotton price CC Index(3128B) was 11,975 Yuan/ton, down 104 Yuan from the previous month. Zhengzhou Commodity Exchange main cotton contract CF009 week average price 11,845 Yuan/ton, down 143 Yuan month-on-month.

2. Most of the Cotton in the Country is in Budding Period

Last week (June 15-19), the weather in most cotton areas of the country was good, which was conducive to the growth of cotton. Most of the cotton in the country is in the fifth true leaf to bud stage, the local cotton area in Xinjiang entered the flowering stage.