Home / Knowledge / News / Textiles / Market sees further pull back
Market sees further pull back
05
Jan '08
Market saw further pull back and range bound trading Friday. Estimated volume was 22,000 contracts in futures and 13,000 contracts combined in options. ICE was called to open lower on slight loss in overnight grains market. All months quickly hit today's lows before pit open and slid slowly back up during the day. Late session buying activities pushed the settlement close to unchanged.

This morning's US export report was exceptionally weak but expected as the dull holiday season has led to an inactive market. New sales were sharply declined from the week before with 68,400 running bales upland and pima combined. The major buyer was China with 26,300 bales. Shipments dropped to 190,250 running bales combined with 25,200 bales leaving for China and 15,200 bales leaving for Turkey.

According to one analyst, the world freight index BDI, which measures the worldwide exports of dry goods such as agricultural products and coal etc., has tumbled 20% from last fall. This week's grains sales were also poor. This index might be a key indicator of the health of the overall world economy and makes us wonder when the demand will start to pick up.

Technically, we continue to trade in the range set by Wednesday's session in correction of the overbought market. Resistance at 69 cents on March contract is holding firm. Market has been dull during the holiday season, and this morning's export report, anticipated but worse than that, shows dramatic drop from the weekearlier.

As no fundamental news is around to trade on and as long as outside commodities markets continue to be strong, cotton might feel the pressure to follow. However, scale up trade selling interest will pose a lid on the market short term. We expect to see market trading range bound for the upcoming sessions in search for direction.

Click here to view more:

ECOM USA Inc


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Urmil Arya

Sushila International, a well established textile organisation established ...

Marten Alkhagen
Swerea IVF AB

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

Silke Brand-Kirsch
Schlegel und Partner

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

Steve Cole
Xerium Technologies

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

Madhu Jain
Madhu Jain

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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