Weekly Report: Picking is Faster than Last Year, and Selling Prices are Up Year on Year

1. Xinjiang Seed Cotton Picking is Faster than Last Year

The picking and selling progress of new cotton was faster than that of the same period last year. By September 30, the picking and selling progress of new cotton was 10.61%, 0.05 percentage points faster than that of the same period last year, and the picking and selling progress was 3.26%, 0.60 percentage points faster than that of the same period last year. In September, the national average selling price was 6.37 Yuan/kg, 3.39% higher than that of last year. According to the different regions, the temperature in Xinjiang is more appropriate, and the growing period is about 10 days earlier than last year. As of September 30, the picking progress was 4.73%, 3.9 percentage points faster than that of the previous year. The sales progress was 2.67%, 2.06 percentage points faster than that of the previous year. The average price of cotton sold by farmers was 6.41 Yuan/kg, up 3.22 percent year on year. The weather in the Yellow River Basin was suitable for cotton batting picking and drying, and the picking progress was slightly slower than that of the same period last year. As of September 30, the picking progress in the Yellow River Basin was 70.01%, 2.23 percentage points slower than that of the same period last year. The sales progress was 8.61%, 4.93 percentage points slower than that of the previous year. The average price of cotton sold by farmers was 6.24 Yuan/kg, up 6.12 percent year on year. It was cloudy and rainy in The Yangtze River basin in September, cotton batting was slow, and rotten bolls increased, which was unfavorable to the quality and yield of cotton, and the picking progress was obviously slower than that of the same period last year. As of September 30, the picking progress in the basin was 36.84%, 27.59% slower than that of the same period last year. The sales progress was 7.21%, 10.23 percentage points slower than that of the previous year. The average price of cotton sold by farmers was 5.72 Yuan/kg, down 1.72 percent year on year.

2. Both Domestic and Foreign Cotton Prices are Rising

The weekly average price of CC Index(3128B) was 13,110 Yuan/ton, up 247 Yuan month on month. Zhengzhou Commodity Exchange main cotton contract CF101 weekly average price 13,175 Yuan/ton, up 407 Yuan month on month; ICE cotton futures' recent weekly average was 67.12 cents/pound, up 1.42 cents month-on-month.