Home / Knowledge / News / Textiles / Cotton market falls slightly
Cotton market falls slightly
14
Feb '08
Cotton fell slightly today on mixed results in commodities and the equity markets. There was a positive report for retail sales this morning showing strength in automobiles and energies which gave confidence that a recession may be avoided.

Along with the President signing a 150 billion dollar consumer stimulus package today, the equity markets rallied strong and even closed above the recent downside trend line. Volume is falling with only 36,000 futures and 7,000 options as we completed the last day of the large Goldman Sachs roll.

The open interest in H'08 has been coming down at a steady pace and we should make a smooth transition to K'08. Cert stocks have been growing as there does not seem to be a great deal of nearby demand to justify taking the cert stock.

We still have 6 trading days before FND and we are getting some nearby interest from those mills who want to take advantage of the cheaper prices in NY for March shipment. China comes back form holiday tomorrow, but we are expecting a below average export sales report tomorrow as we continue to digest the bearish fundamental picture in cotton.

Technically the moving averages continue to get closer to crossing which may give the technical signals for more sell stops. We did close below the 50 day moving average and may uncover some more sellers if demand does not surface with China still in holiday mode. We continue to see good scale down trade buying under 66.50 and bounced back close to 67.50 before closing weaker.

Fund rolling will continue with only 6 trading days before FND, and unless there is a stopper, we may continue to test the downside.

Click here to view more:

ECOM USA Inc


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kai Poehler
Voith Paper GmbH & Co. KG

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


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