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Xinjiang new-cotton prices have risen but have eased recently as Zheng cotton futures weakened, with mainstream prices at 5.8-5.9 yuan/kg. Ginning enterprises report rising processing costs even as seed cotton prices fall, partly because cottonseed prices in Xinjiang dropped from 2.4 to 2.15 yuan/kg.
Lower cottonseed values reduce the by-product credit for ginners and may tighten their cost structure, which can affect cottonseed meal supply over time. The direct effect on feed prices in the near term is limited.
sjfzxm.comOct 9, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
