Home / Knowledge / News / Textiles / Cotton March contracts settle lower
Cotton March contracts settle lower
23
Jan '08
Overnight ICE traded lower after the 3 day Martin Luther King weekend. The commodities market is feeling pressure posed by the macro economic environment. The Far East, Europe as well as Latin America showed that they are also concerned about a slowdown in the U.S. economy and this lead to huge sell offs from the international stock markets as much as 10% on Monday and Tuesday.

This prompted the Fed to come in this morning before the markets opened and made a 75 point cut in interest rates to try and stabilize the markets ahead of the scheduled meeting on Jan 29th where the market is estimating another possible cut.

Dow Jones recovered part of the losses after the emergency rate cut, but still made the 5th continuous down day. ICE pit trading was called to open around 200 points lower, but bounced off the lows following outside grain markets. Wheat being the most volatile of the grains, was traded lower in the early morning, then higher by more than 20 points, and then settled near limit down.

Cotton settled at 70 points lower on the front March contract, and 90 points on the forward contract months. As generally expected by the market, today's Spec Hedge report gives a net long position of 29.5%, up 2.1% from the week before.

Open interest was increased by nearly 22,000 contracts last week and created record high almost every single day as you can see on page 2 in attached PDF. Futures volume was strong today with 30,000 futures and 20,000 options.

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Manfred Mentges
Sedo Treepoint GmbH

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

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

Bani Batra

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

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
January 2017

January 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