Home / Knowledge / News / Textiles / ICE Cotton settles almost 150 pts lower this week
ICE Cotton settles almost 150 pts lower this week
01
Feb '14
ICE Cotton settled almost 150 pts lower for the week at 85.83 c/lbs basis the H4, which wasn’t bad considering Monday started with a 300 pts sell-off. What looked like a near-term top above 88 cents now has to be viewed a bit more wearily following yet another stunning export sales figure (+480k for 13/14 upland). A second week of strong export figures is a little harder to blame on lagged reporting, with rumors suggesting a non-cotton entity may have been behind some of the buying. 
 
It is also notable that a 60k bale cert happened with the click of a button on Wednesday, followed by a further 12k on Thursday, did not affect the market. Nonetheless, while sales continue unchecked, exports will have to continue gaining pace – otherwise current crop sales will be rolled into 14/15 shipments, alleviating some downward pressure on the USDA’s 3.0m bale carry-out figure. 
 
Elsewhere in the world, the Australian crop is suffering and Indian arrivals have tailed off – and China remains, as always, a question mark, particularly going into the 14/15 season. This is being reflected in the N/Z spread, now trading at close to a 10 cent inverse. Around the world, the emerging market currency sell-off intensified this week, stemmed only partly by draconian hikes in interest rates in Turkey, and to a lesser extent recently in Brazil, India and South Africa. The moves will be painful medicine, as the higher rates needed to tame inflation and depreciating currencies will do no favors for economic growth, which is under pressure both at home and from a slowdown in China. 
 
A full-blown credit crisis was certainly avoided in China this week as a 3rd party investor stepped in to bail out a troubled trust product, but one has to wonder if this was the Bear Sterns of a future, more damaging unraveling in China. US economic growth, meanwhile, picked up to 3.2% in Q4 2013, allowing the Fed to continue tapering at its meeting this week – this should continue unless the emerging market scare continues to worsen.

ECOMUSA Inc

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

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

Rupa Sood and Sharan Apparao
Nayaab

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

Karan Arora
Karan Arora

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
March 2017

March 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