Home / Knowledge / News / Textiles / Cotton market sees a steep drop with NY futures sharp fall
Cotton market sees a steep drop with NY futures sharp fall
25
Jan '08
NY futures dropped sharply this week, as March lost 353 points to close at 68.39 cents, while December gave back 337 points to close at 76.62 cents.

Easy come, easy go! That seems to best sum up the recent action in the cotton market, as last week's five cents spike was quickly followed by a steep drop of almost equal proportions.

With financial markets in a state of confusion and with traders making decisions based on the emotion of the moment, it has become quite difficult to anticipate the market's next move. The cotton market seems to have no mind of its own at the moment and instead follows the wild gyrations of outside markets.

The apparent logic suggests that if the US were to enter a recession, it would pull the world economy down with it, which in turn could lead to a significant drop in consumer spending and therefore weigh on commodity prices. While we don't disagree with the forecast of a recession in the US - in all likelihood we are already in the midst of one - we don't necessarily agree with the conclusion that this will invariably lead to lower prices.

If the powers in charge would let the business cycle take its course, the economy would most likely head into a severe recession. But as we have witnessed this week, the US government and the Federal Reserve are throwing everything but the kitchen sink at this threat of recession by authorizing a significant tax-cut and spending plan, and by dropping interest rates by the widest margin in two decades.


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

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

Jurgen Gauger
Spreadshirt

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Liz Manning

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

Silke Brand-Kirsch
Schlegel und Partner

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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