Weekly Report: Cotton Growth is Normal, Market Demand is Weak

1. Cotton Prices are Lower at Home and Abroad

Before the Dragon Boat Festival, the overall demand is weak, domestic cotton prices fell slightly; Affected by uncertainties such as the good growth of cotton in the United States and repeated outbreaks of COVID-19, cotton prices rose first and then fell during the whole week, but the average weekly price still rose. The weekly average price of CC Index(3128B) was 11,972 Yuan/ton, down 3 Yuan from the previous month. Zhengzhou Commodity Exchange main cotton contract CF009 weekly average price 11,732 Yuan/ton, down 113 Yuan month-on-month.

2. The Weather in the Northern Cotton Region is Favorable for Cotton Growth

Last week (June 22-26), the temperature of most cotton areas in northern China were normal, which was conducive to the normal development and growth of cotton. The Yangtze River Basin received much rain and little light, and heavy precipitation occurred in some areas, affecting production. Most of the country's cotton in the fifth true leaf to bud. Temperatures in most parts of North China, central and eastern parts of northwest China and southern Part of Xinjiang are close to year-round or on the high side.