Home / Knowledge / News / Textiles / ICE cotton sees lowest settlement in nine months on Friday
ICE cotton sees lowest settlement in nine months on Friday
Oct '13
ICE cotton continued its sell off this week with market posting the lowest settlement in more than nine months on Friday.

The December contract settled at 79.08, losing over 400 points over the course of the week. Harvest pressure of the northern hemisphere and a weak demand for the physical fiber contributed to the falling market.

The delayed USDA export report released Thursday for the week ending October 3rd showed that new sales upland and pima combined for the week were a decent 142k running bales, but cancellations of nearly 67k bales out of Turkey slashed the number by almost half.

Growing U.S. cert stocks is another contributing factor, with the current stock level of over 110k bales and almost 48k bales in waiting review.

Technicals are looking very bearish as we easily broke through and are now trading below the long term support level established at the beginning of the year. The market is looking oversold, and is due for a rebound, but the short term trend continues to look negative.

Prices start to look competitive enough to attract physical demand and mill fixations, which will provide some support for the market. Carry has come back to the market with a spread of 150 points between December and March contracts, and it’s likely to widen out further in the near future.


Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search