Cotton vice rally slowed down, the market is still bullish

After a phase of rising, the current cotton by-products and similar products spreads are severely shrinking, and even in the weak. The current cotton oil and a soybean oil spread in about 200 yuan / ton, while the same period last year, cotton oil and soybean oil spread in about 700 yuan / ton, the five-year average spread in about 960 yuan / ton; recently cotton meal rose more, and soybean meal spread narrowed significantly, only 100-300 yuan / ton difference, significantly lower than the normal spread, with the dissipation of the advantage of the cotton spread, the downstream demand is inhibited, retarding the price of cotton vice Further rise. However, due to the tight supply of domestic cotton by-products, it is estimated that the market is easy to rise and difficult to fall.

　　On November 29, domestic cotton seed prices around the country stable in a narrow range of oscillation. At present, cotton husk and cotton lint has been under pressure to pull back, oil mills finishing profit losses, the purchase of high-priced cotton seeds cautiously, some manufacturers pressure psychology still exists, so that the day part of the cotton seed prices continue to fall.

　　Domestic cotton oil prices more stagnant stabilization, local still up. At present, the spread between cotton oil and soybean oil narrowed, and soybean oil, palm oil and other oil prices fell, affecting the price of cotton oil rose. However, cotton oil stocks are still tight, oil mills are still strong will to support oil prices, and this year, the capacity is similarly tight, packaging oil preparation has started, by the macro environment, the recent performance of the bulk of oil and grease is still firm support, estimated short-term cotton oil is difficult to fall, the overall or will still gradually rise.

　　Domestic cotton meal prices continue to rise. Because of this year's strict investigation of overloading, the degree of capacity tension is unprecedented, feeding enterprises in advance of pre-holiday stockpiling, oil mill soybean meal supply tension will continue, soybean meal is difficult to fall, the market will still shock tend to run up, bringing support for the cotton meal market.

　　Domestic cotton staple prices are mostly stable, local continue to fall. The current downstream products up weak, and by the impact of environmental issues, some refined cotton mills also have shut down the spot, buyers are still cautious to purchase high-priced staple, temporary still more with the purchase, the high price of cotton staple basic no transactions, so that the day individual oil mills continue to reduce the cotton staple sales quotes.