Home / Knowledge / News / Textiles / ICE Cotton trends stay nearly unchanged this week
ICE Cotton trends stay nearly unchanged this week
22
Feb '14
ICE Cotton traded near unchanged for the week at 88.35 c/lbs basis the K4 contract. Widespread discussion about pending fixations against on-call sales led mills to fix or roll in an orderly fashion, and it’s likely that no large stopper emerged due to concerns about the N/Z invert and the absence of an attractive H/K spread. 
 
This helped avoid any fireworks this week, and the H4 contract will most likely not see the bulk of the cert stocks change hands. 
 
The tension between current and new crop will continue as the K and N contracts play out. USDA export sales for current crop finally slowed to 71k bales, while new crop buying picked up to over 200k due to an attractive Z4 price and exports were strong again at 325k. 
 
The USDA’s top economist predicts 14/15 US area at 11.5m acres, slightly above the NCC number of 11.26m, with much yet to be determined in terms of soy area and cotton abandonment. Policy rumors continue in China.
 
In the broader markets, this week was notable for the surge seen in many commodity markets. Coffee, in particular, exploded higher on Brazilian weather concerns and gains were seen too in WTI oil (two-year highs), soybeans, and sugar. 
 
Meeting minutes from the Fed’s January meeting showed a commitment to continue reducing stimulus while leaving rates unchanged for the forseeable future. Japan’s central bank committed itself to further easy policy, while in China the flash PMI for February projected lower-than-expected economic activity and the RMB softened slightly against the USD. 
 
The week’s most memorable feature though lies more in the political than the economic realm, with unrest in Ukraine, Venezuela and Thailand likely to have longer-lasting repercussions in those markets.
 

ECOMUSA

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

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

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

Yash P. Kotak
Bombay Hemp Company

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

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