1. Epidemic and Vaccine Progress

As of 9 the total number of confirmed cases worldwide exceeded 9000 ten thousand people, the existing number of confirmed cases 2325 ten thousand people, the cumulative number of deaths 193 ten thousand people, and the cumulative number of recoveries exceeded 6484 ten thousand people. 8 The number of new cases abroad on 69 reached ten thousand people. The number of newly confirmed cases last Sunday was approximately 75 ten thousand, a significant increase from the previous week. The newly added cases mainly came from the United States, / the United Kingdom, / Brazil, / and South Africa. Vaccine information: As of 10 the cumulative number of countries that have administered vaccines exceeded 42 and the total number of doses exceeded 2500 ten thousand. Among them, China administered more than 900 ten thousand, the United States administered 801 ten thousand, the United Kingdom administered 200 ten thousand, Israel administered 181 ten thousand, and the UAE administered 108 ten thousand. The number of people vaccinated worldwide doubled last week.

2. Overseas Market Information

1) As of 1 Month 7 Day, the cumulative amount of US cotton listed was 295 ten thousand tons, accounting for 85% of the estimated value. Due to holidays, the weekly listing of US cotton has been at a historically low level for two consecutive weeks. It is expected that the yield of US cotton may be further reduced.

2) As of 31 The cumulative sales of US cotton on 274 were ten thousand tons, and the cumulative shipment was 133 ten thousand tons. The signing progress was 84% and the shipping progress was 40.7% which remains the fastest pace in history. It is expected that the export volume of US cotton will be further increased, corresponding to a tighter balance sheet.

3) As of 9 On 275 the cumulative listing of Indian cotton was ten thousand tons, an increase of 20% compared to last year. Among them, 50% entered CCI inventory. Last week, India raised the reserve price for old cotton by 400 rupees per double 30 The US dollar price is approximately 78.37 The new cotton was raised by 400 rupees per double 30 The US dollar price is approximately 80.15. Last week CCI the reserve transaction was approximately 15.41 ten thousand tons.

4) The biggest change last week was in the price of foreign yarn. Indian yarn led the rise, followed by Vietnamese and Bangladeshi yarn prices, with an increase of 0.15$/kg or more. The processing profit of foreign yarn is the best in history, and yarn orders are generally until 3 Month.

3. Domestic Market Information

1) As of 1 Month 7 On 524 the cumulative processing was ten thousand tons, of which Xinjiang processed 511 ten thousand tons, and the mainland processed 12.8 ten thousand tons. , The average daily processing volume last Sunday was 2.7 ten thousand tons, the highest in recent years. Based on the current listing progress in Xinjiang, the estimated output of Xinjiang is 531 ten thousand tons, and the estimated national output is 560 ten thousand tons. Currently, BCO estimates the output of Xinjiang to be 517 ten thousand tons, and the national output to be 571 ten thousand tons. NCMMS estimates the output of Xinjiang to be 525 ten thousand tons, and the national output to be 595 ten thousand tons. As of 7 the cumulative inspection volume was 497 ten thousand tons, of which Xinjiang inspected 485.7 ten thousand tons, and the mainland inspected 11 ten thousand tons.

2) Last week, the cancellation of 1920 warehouse receipts 3320 tons were mainly 3129 and 4129 The registration was 2021 warehouse receipts 6.61 ten thousand tons, of which the mainland warehouse receipts increased by 5320 tons, and Xinjiang warehouse receipts increased by nearly 6.1 ten thousand tons. 8 On 60 the total amount of warehouse receipts was 93% ten thousand tons, of which 7% was new cotton, and 3128 and 3129 was old cotton. In the new cotton, 84%。 

3) the proportion of cotton

4) Downstream textile enterprises' yarn inventories continued to decline, gray fabric operations decreased, and textile enterprises' processing profits continued to improve. Due to the policy of "local New Year's celebration" implemented in many places, gray fabric operations are expected to be maintained. 7.3 Port inventory of imported yarn 0.5 ten thousand tons, a decrease of ten thousand tons from the previous week, and the operation of downstream enterprises for imported yarn was maintained.

IV. Domestic Market Bullish and Bearish Factors

Bullish Factors

1) Smooth industry chain transmission, finished product inventory continues to decline. The finished product inventory of the industry chain is at a very low level.

2) The cost of remaining unhedged resources is very high.

Bearish Factors

3) Domestic textile enterprises' cotton inventories have generally recovered to above the average level of previous years, and the willingness to purchase at high prices has decreased.

4) 1 The impact of imported cotton and imported yarn on domestic supply after mid-month.

V. International Market Bullish and Bearish Factors

Bullish Factors

1) Foreign traders are beginning to replenish inventories, the industry chain transmission is smooth, and spinning profits are good.

2) The balance sheet for US cotton is expected to tighten further.

3) Quota allocation is conducive to imported cotton consumption.

4) US Cotton and US Soybeans / The price ratio of US corn has further declined, and the price ratio of agricultural products is bullish for US cotton. 5 ) La Niña climate characteristics may lead to a decline in yield next year.

Bearish factors.

1) Focus on the impact on consumption after overseas blockade measures.

2) Focus on the development of the overseas epidemic and the effectiveness of the vaccine.

3) United States 10 The impact of the long-term Treasury interest rate exceeding 1% on US stocks, and the possibility of asset resonance callback.