Home / Knowledge / News / Textiles / ICE Cotton gains almost 400 points this week
ICE Cotton gains almost 400 points this week
14
Dec '13
ICE Cotton had its best week since August, gaining almost 400 pts to settle at 83.22 c/lbs basis H4. The USDA WASDE release on Tuesday was a non-event – failing to include an increase in US exports as had been expected by many – but the market may have been relieved at the lack of any overly bearish adjustments.

Cert stocks continued to decline to under 60k bales this week, with newly delivered stocks coming from old crop rather than newly harvested cotton. US Export Shipments have finally picked up and sales this week were better than expected. Export demand has slowed on the run-up this week, but bids remains under the market and reports from many mills around the world are positive.

Managed money increased its net long position by almost 9,000 contracts through Tuesday, and this likely continued during the week as trend-followers jumped on board and the lack of bearish news helped the market rebound from an over-sold, low-open-interest environment.

Developed market equity indices keep setting records and all eyes will now be on the FOMC meeting that wraps up next Wednesday. The surprising bi-partisan agreement reached in the US Congress looks likely to avoid a re-run of October’s government shutdown, which should reduce some uncertainty for the Fed.

Wrangling over the debt ceiling has kept enthusiasm in check, however, and most analysts still don’t expect tapering to be announced next week. In the short term. the USD Index has remained close to 80 allowing copper, oil and gold to hold above recent lows. Broad investor sentiment towards commodities remains overtly negative though which could cause index fund outflows in the medium term.

Ecom USA


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X