Does Zheng Mian usher in a bargain-hunting opportunity?

Does Zheng Mian usher in an opportunity to 'buy the bottom'?　　 After more than 20 days of 'sinkingOn the same day, Zheng Mian's 1707 contract closed at 15210 yuan/ton, up 150 yuan/ton; the main 1709 contract closed at 15,515 yuan/ton, up 300 yuan/ton. On the night of the 8th, the disk continued to rise. The CF1707 contract closed at 15,230 yuan/ton, an increase of 20 yuan/ton; the CF1709 contract closed at 15,605 yuan/ton, an increase of 90 yuan/ton. On the 9th, Zheng Mian continued to rise.　　 Zheng Mian broke through and soared, causing market concern. After experiencing a deep decline in early and mid-May, Zheng Mian started an oscillating decline pattern starting on May 16. After more than half a month of downward adjustment, Zheng Mian's gains in early May all retreated. However, Zheng Mian will not be content to be lonely, and a new round of surge mode may be launched in the near future. First, the bottom features are already very obvious. After nearly 20 days of decline and consolidation, Zheng Mian has recently lost all the gains in early May. Especially during this period, Zheng Mian (CF1709 contract) oscillated and gained momentum around 15,500 yuan/ton, which is believed to have accumulated sufficient power for the later rise.　　 In addition, the recent ICE cotton has also bottomed out and rebounded. Yesterday, the ICE futures cotton continued to rise; the 1707 contract closed at 76.55 US cents/lb, up 76 points; the 1712 contract closed at 73.10 US cents/lb, up 42 points. Some industry predicts that although US cotton production will increase sharply this year, exports are also optimistic in the near future, which will provide strong support for ICE cotton.　　Second, the state-owned cotton transaction showed new characteristics: 　　1. Real estate cotton transaction volume increased. On the four trading days of this week (June 5-8), real estate cotton transactions were 6,444 tons, 6,433 tons, 6,266 tons, and 7,777 tons, respectively, which was a significant increase from last week. The market signal reflected by the increase in real estate cotton transaction volume is: the degree of loose cotton supply and demand has quietly changed.　　2. Xinjiang cotton is in short supply from the State Reserve. Recently, the supply of Xinjiang cotton from the State Reserve in the spot market is in short supply. According to feedback from the auction storage companies, the Xinjiang Cotton from the National Reserve that has just been auctioned is sold in the spot market, and the price increases by 200-300 yuan/ton will be sold out immediately. Therefore, everyone is still keen to shoot Xinjiang cotton.　　 In addition, since this week, the amount of cotton hanging out of Xinjiang has continued to decrease, only at 12,000 to 130,000 tons. On the one hand, the market is thirsty; on the other hand, there is 'hunger sales'. Can the price rise?　　Third, the warehouse receipt cotton is now ready to try. As Zheng Cotton has fallen to 15,500 yuan/ton (CF1709 contract) and 15,200 yuan/ton (CF1707 contract), the price gap between Zheng Mian and the spot has widened. According to feedback from cotton-using enterprises, the warehouse receipt cotton is mainly Xinjiang cotton (grade 11 and 21), with horse value C and B, and strength 27-28CN, which is mainly used for spinning medium and high count yarns. In addition, due to the high premium of warehouse receipt cotton, the actual point price transaction and the forward cash increase gradually. The market predicts that once the cash receipts of warehouse receipts increase, the price will take off again.　　 Fourth, the structural tension of cotton supply and demand in 2017 will exist for a long time. Affected by the sharp cuts in cotton production in 2015 and 2106, textile enterprises largely rely on the state reserves to produce cotton, and the Chinese market has revealed the problem of tight supply of high-quality cotton. In 2017, domestic cotton production is still not optimistic, and textile enterprises will still need to rely on the support of the State Reserve to use cotton in the next year. Therefore, the tight supply and demand of high-quality cotton in the next year is difficult to change in the short term.　　 Since most of the warehouse receipt cotton is Xinjiang cotton, and the quality is medium and high-quality, this also gives Zheng the reason for the sharp rise of quilts. Therefore, the author expects that Zheng Mian may rise sharply again in the near future. Article Keywords: 　Cotton Zheng Mian