Home / Knowledge / News / Textiles / ICE Cotton Futures lose almost 200 pts this week
ICE Cotton Futures lose almost 200 pts this week
31
May '14
Sell the rumor, sell the fact continued as game-changing rains in Texas helped ICE Cotton futures lose almost 200 pts basis Z4 and just under 50 pts basis the old crop N4. The rains have analysts increasing their 14/15 US production and ending stocks figures by anywhere from 1 to 3 million bales, although additional rains will be needed in a timely fashion to get anywhere near the top end of the range. 
 
USDA Export sales reported were considered disappointing by the market, which had been expecting another strong report following the Chinese conference which ended during the reporting week, but in reality the previous week was more like a one-off. 
 
In any case, commitments currently outpace the USDA’s WASDE export target, so we’ll need net cancellations in the next 10 weeks in order to avoid overshooting. Cert stocks have started to reverse on the dip, and mill fixations picked up as N4 on call sales fell almost 30% in the reporting period – and likely continued falling to end the week. This suggests that N4 is likely to find some near-term support.
 
In macro news, Us 2014 Q1 GDP growth was revised lower to -1% annualized, the lowest since 2011. Analysts interpreted this positively, however, as it was attributed to temporary weather factors and inventory building.
 
The stock market was unfazed too with the setting all-time highs again above 1900. Investor money has pulled back from the long side of ag commodities but with low rates continuing, fund flow will not be too far away.
 

ECOMUSA

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Anvita Mehra
Confidential Couture

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

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mohammad Hassan
Biax Fiberfilm

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

Yash P. Kotak
Bombay Hemp Company

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

Mike Hoffman
Gildan Activewear SRL

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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