CNCotton Daily Summary (Jan.6)

CNCotton A is 28,549, up 9 and CNCotton B is 27,810, up 14.
ZCE cotton CF101 is 28,685, down 10.
CNCE MA1101 is 28,205, up 281.

Import price moved higher again, with most descriptions rising 1-2 cents.

Domestic cotton price firmed up today. Mills are buying T328 at 28000 yuan per ton, a level that has prevailed in the past month. Cotton yarn market warmed up, along with a higher price.

ZCE cotton futures jumped higher, with CF1109 rising 3.1% to close above 29040. Market closed on expanded volume and open interest. Recent price surge is tied to limited world supply. Additional price gains should easily catch the attention of the government.