Home / Knowledge / News / Textiles / Mills price fixation to add further support to market
Mills price fixation to add further support to market
18
Jan '08
NY futures exploded to the upside this week, as March gained 496 points to close at 71.92 cents, while December rallied 543 points to close at 79.99 cents.

It was a memorable week for the cotton market, as the investment-driven juggernaut continued on its northerly path. Trading volume was phenomenal, even surpassing the high levels we typically see only during the rolling period.

On Monday, no less than 51'396 futures and 79'211 options traded, and this despite the electronic platform being shut down for most of the session. Between Friday and Wednesday the daily volume amounted to at least 85'000 futures and options, before dropping down to 'just' 45'000 contracts in today's session.

Surprisingly, this five cents rally was not the result of short-covering. Since last Thursday, open interest increased by another 19'021 contracts to 273'764 contracts as of this morning, which suggests that both sides, spec longs and trade shorts, continued to add to their respective positions. Open interest has grown by nearly 42'000 contracts or 4.2 mio bales in the first two weeks of 2008.

The most recent spec/hedge reports by ICE (futures only) and the CFTC (futures and options) both show that index and hedge funds continued to allocate more money to the long side, while the trade increased its already sizeable short position. According to the latest ICE report as of January 11, spec longs owned a record 14.05 mio bales, while spec shorts held 6.94 mio bales.


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mohammad Hassan
Biax Fiberfilm

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

Steve Cole
Xerium Technologies

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

Giorgio Mantovani
Corman S.p.A

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

Anisha Chaudhari
Threads & Shirts

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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