The World Economic Situation Is Affecting The Price Of Lint.

December contract fell below key support 50.45 cents later continued to lower, hitting 48.57 cents in the limit.

At present, the harvest rate of local cotton growers is around 75% in Shandong, and the sales volume is less than 10%.

Although the purchase and storage policy was introduced last week, it has little impact on the local cotton market, and seed cotton, cottonseed and lint prices continue to decline.

At present, because of the continuous decline of cotton seed and lint market, most of the local cotton enterprises have not yet started to scale up, even though the purchase of scale enterprises is more cautious.

The price of cotton market in Xinghua, Jiangsu continues to decline, and the purchase price of seed cotton has also been reduced. Cotton farmers' income has been shrinking, and cotton enterprises have been caught in the dilemma of collecting and receiving.

Local cotton growers say that the sharp decline in the purchase price has made cotton growing profits shrink, but fear that future prices will fall further and can only be sold as soon as possible.

The weather conditions in Anhui are good, and the picking progress of cotton growers is obviously faster.

As of October 17th, the seed cotton picking rate in Anhui province has reached 65%, and the picking rate in the area along the Yangtze River reaches 70%, but the sales progress is only about 15%. The main reason is that cotton enterprises are cautious in purchasing, and cotton farmers are reluctant to sell seriously.

The state has already stored a certain amount of cotton in the Xinjiang area at the price of 12600 yuan per ton. The next step will be to increase the number of storage and storage according to the market situation and organize the cotton Sinop.

Cotton market is sluggish, cotton enterprises stop and wait.