The current Sino-US trade relationship is in danger, the global epidemic situation is still grim, and the consumption of agricultural products has been hit hard. With the continuous increase in the arrival of imported soybeans, the supply of domestic oilseeds and other products has eased, and it has also brought a negative effect on cotton by-products. It is expected that the prices of cotton by-products are still difficult to be optimistic in the near future, and buyers need to be cautious when entering the market.
Cottonseed prices are mostly stable, with local prices rising slightly. National highway tolls have been restored, freight rates from Xinjiang to the mainland have increased, and the amount of cottonseeds has been low. Cottonseed traders have raised prices, and Xinjiang cottonseeds have increased inland prices. Bulk oilseeds fell, cotton by-products shipped poorly, mainland oil mills squeezed profits, the startup rate was low, and acquisitions were cautious. It is expected that the short-term Xinjiang cottonseed quotation or shock consolidation.
Cotton oil prices fell. Affected by the decline in the price of US soybeans, domestic oil and fat prices followed suit. The fundamentals of oils and fats are empty, which drags down cotton oil sales. Xinjiang cottonseeds prices in mainland oil mills have increased. Xinjiang cotton oil mills have locked in more contracts. Xinjiang cotton oil has experienced a relatively small decline.
Cotton meal prices fluctuated slightly. Supported by the cost and supply side, mainland oil mills increased their cotton meal prices. Toll roads across the country have resumed tolling, suppressing the decline in Xinjiang cotton meal prices. The epidemic is still spreading around the world, hitting the catering industry hard, the demand for meat is greatly affected, the meal market confidence is hit, and due to the huge profits and the subsequent large volume of arrivals in Hong Kong, the soybean oil plant has increased the operating rate, and dealers are eager to continue to lower shipments Soybean meal quotations dragged down cotton meal demand.
The price of cotton linters has remained stable, and prices have fallen in individual regions. The market demand for cotton linters is weak, and shipments from manufacturers are slow, which is a drag on the market. The price of cottonseeds in Xinjiang has risen, the rate of start-up of cotton oil mills in the mainland is relatively low, and the limited output has limited the decline of cotton linters. It is expected that the short-term prices of cotton linters will be mainly stable, and prices in some regions will fall.
