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Daily Report on Cottonseed and Its By-products in China

2018-09-03 www.cofeed.com

    Cottonseed meal: Last Friday US soybean price went up. Today meals on DCE also rise, followed by soybean meal spot goods to increase by 10-30. Cottonseed meal price keeps stable today for its limited supply in peak demand season of aquaculture and climbing consumption in poultry. The market is predicted to remain its slow upward state despite some fluctuations before new cottonseed meal enters into market. But there still remain pressure for soybean meal stock and uncertainties in trade war, so buyers shall not chase prices higher excessively. 


    Cottonseed oil: Last Friday US soybean price closed higher. Today, oils on DCE keep stable despite some fluctuations, with soybean oil spot goods to fall by 10-30. Cottonseed oil price is weak in going up due to its limited usage amount as a blending oil. Holders tend to hoard their cottonseed oil stocks due to low price currently and limited cottonseed oil output under low operation rate by temporary shortage of cottonseed supply. Besides, trade disputes and small packing oil stockpiling in the run-up to festival are yet to finish, so cottonseed oil price may go up steadily despite some fluctuations. Buyers are suggested to make some replenishment at lows. 


    Cottonseed: Cottonseed price stays stable today, due to ongoing China-US trade disputes, and tighter cottonseed supplies in mainland China since cottonseed from Xinjiang is small in volume when transportation from Xinjiang to mainland China are mainly put into melons and fruits. But cottonseed price is hard to surge at present, due to sluggish upward trend of cottonseed oil and cottonseed meal under the existing fundamental pressure of staple oils and soybean meal, dismal crush profits in oil mills and lower quality of old cottonseed, despite that scattered washy new cottonseeds have entered into market. Therefore, short-term cottonseed price may be mainly in a narrow fluctuation state.