Home / Knowledge / News / Textiles / Cotton stays fairly quiet
Cotton stays fairly quiet
01
Feb '08
We got some overnight weakness in commodities from the weak close in U.S. stocks yesterday which also weighed on the foreign markets in Asia and Europe overnight. There was more follow through to the downside early in the day which continued to put pressure on cotton prices as well as the grains, energy and metals.

However, the last day of the month had a few surprises as we managed to mount a mid day rally which lead to a 300 point turn around from the lows and this time it held near the highs. Cotton stayed fairly quiet but did manage to settle off the lows and near the middle of the days trading range.

Volume was average again today with only 25,000 futures and 12,000 options as the market was not too impressed with today's export sales report. There were estimates as high as 500,000 potential new sales with rumors of China being a big buyer on last weeks pull back.

They did manage to buy 150k of the 300k in sales, but shipments remained close to 200k which is right on the 4 week average and continues to lag way behind the USDA estimate. The export reports for the other grains were also on the low side which gave them some early weakness as well. However, we did close strong in the equity markets and that helped get several commodities back in the green by the end of the day and may lead to further upside on Friday.

RSI remains near 50 and prices are holding the low at the 50-day moving average. We may continue to play the range between 67/69 until more information is available. The 50 and 9 day moving averages are starting to get closer as we move sideways and this could be a factor as we wait for a break in this current flag pattern.

We do have a USDA report coming up on February 11th and we are approaching H'08 expiration. However, grains will continue to have the biggest impact as we get closer to new crop planting and the fight for acreage.

Click here to view more:

ECOM USA Inc


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Kerem Durdag
Biovation II LLC

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

Silke Brand-Kirsch
Schlegel und Partner

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

Suresh Patel
Sidwin Fabric

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

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

Madhu Jain
Madhu Jain

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

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