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 Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search