Home / Knowledge / News / Textiles / Dec cotton futures move up just 14 points last week
Dec cotton futures move up just 14 points last week
18
Aug '14
In comparison to closing of August 8, the December New York cotton futures contract moved up only 14 points over last Friday’s (August 15) settlement and maintained a 200 point trading range on the week.

This leaves one thinking, that there wasn’t much happening in the cotton world last week.

However, there are a lot of things bouncing around behind the scenes, says the latest Ecom weekly cotton market report.

First, mills are waking up and realizing that getting their hands on physical cotton before the end of the year may be more difficult than previously expected.

For the few new purchases that they are able to make, they have been forced to pay high basis levels, especially for the few September shipments that merchants are willing to make.

Second, the USDA increased their U.S. production estimate to 17.5 million bales, up 1 million bales. The increase was in ranges predicted by analyst.

However, given the increased dryness of late in west Texas and farmers looking for any way out of these depressed prices (i.e. insurance paying more than the current market price) we will see estimated production number start to come down toward the 17 million bale level.

Finally, with the market bouncing around between 62.00 and 65.00 for the past few weeks it seems like something has to give.

Specs may start covering short futures if the market gets much above the 65.00 level, causing the market to “bounce” but if the market breaks much below the 62.00 level they could start adding to their short positions, forcing the market even lower.

Looking at the fundamentals and technical indicators, the report expects a bounce but, like it said last week, “Hold on when everyone expects something because the opposite seems to happen”.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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

Active Poll

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

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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