In early December, cotton picking in Xinjiang has basically ended, and various ginning companies have stopped harvesting one after another. The focus of the company’s work has turned to seed cotton processing and lint sales. It is expected that most enterprises’ processing will be completed before the end of the year, and some enterprises with large acquisition volumes will be postponed until after the holiday.
The person in charge of a company in Kashgar, Xinjiang, said that more than 7,000 tons of seed cotton were purchased this year. Due to the high purchase price, companies are cautious in purchasing. It is understood that the acquisition and processing cost of this company is about 23,500 yuan/ton. Due to the recent decline in futures prices, the futures price has been inverted and lint sales have been slow.