Since entering the harvest period, there have been many problems with the yield and quality of new cotton in the major cotton-producing countries in the northern hemisphere, which has become one of the focuses of recent market attention.
India – The monsoon rains in India have not receded for a long time. The continuous heavy rainfall in the central and southern regions last week caused crop losses. The damage was very serious in some areas, especially Andhra Pradesh and Telangana. Data from the India Meteorological Department showed that rainfall exceeded 225 millimeters that week, and most areas in the above two states received more than 150 millimeters, leading to flooding. These two states are India’s third and fourth largest cotton-producing regions, accounting for a quarter of India’s total production. In addition, the Indian states of Maharashtra and Karnataka, which account for 20% and 5% of India’s production respectively, also experienced heavy rainfall. This round of rain came too late and at the wrong time. Most of the new cotton has not yet been harvested and is soaked in water. This situation deserves great attention from the industry.
Pakistan – There are endless problems with domestic new cotton yield and quality. Affected by the reduction in domestic new cotton production and quality, Pakistani textile mills have greatly increased their demand for imported cotton, especially medium and high-grade cotton. In recent weeks, Domestic cotton prices in Pakistan have continued to rise and hit the highest level in the past decade.
United States – Recent hurricanes are the main driving force for the continued upward movement of ICE futures. The heavy rainfall brought by Hurricane “Delta” to the south-central and southeastern regions of the United States has caused market concerns about the production and quality of new US cotton. , and the continued dry weather in western Texas in the United States will also lead to a decline in the quality of new cotton. The specific damage will be reflected in the later USDA supply and demand forecast. Judging from the current inspection situation, 1.6 million bales of new US cotton have been inspected, most of which come from Texas (or southern Texas). About 70% of them are M grade and above, with an average pile length of 29.27 mm and a strength of 31 g/tex. The horse is worth 4.29. Issues regarding the quality of new cotton require continued attention, and we should be wary of tight supply of high-grade cotton in the later period.
In addition to foreign new cotton, the decline in the quality of Xinjiang cotton in my country this year has also attracted attention from the international market. At present, there are more or less problems with cotton production and quality in several countries with the largest output in the northern hemisphere. With the recovery of textile production and downstream markets, competition for high-grade cotton can be foreseen in the later period. Therefore, cotton prices are expected to remain biased this year. Strong trend. </p
