Home / Knowledge / News / Textiles / ECOM report-Cotton market regains stability
ECOM report-Cotton market regains stability
06
Mar '08
We are starting to find some stability after three straight locked up limit days of trading. Overnight activity opened lower but soon found good scale down buying and eventually worked cotton prices back to limit up in the early morning as we even traded synthetically above 100.00 in the Z'08.

The panic was not as bad today as the trade did not have enormous margin calls to digest. The market eventually worked its way back to unchanged and even 100 lower before bouncing back slightly on the close.

There seems to be good fund and trade buying with the spot month under 90 cents. Volume came down to a somewhat normal level with 62,000 futures, 23,000 calls and 43,000 puts as we continue to see some good psychological resistance near dollar cotton in the back months.

Export sales tomorrow should be below average again as overbought signals are really starting to build up with volatility starting to weaken, open interest falling, cert stocks growing and the relative strength index hitting record levels in the mid 80's. Many investors are expecting some consolidation at these prices but are willing to continue buying dips.

For that reason, we may see some downside testing, but hard to see any big pull back as there is plenty of hand to mouth buying from mills including trade and hedge buying to keep the market in check.

The U.S. dollar continues to weaken and the strong upside momentum in energy, metals and grains are pulling the forgotten soft commodities (cotton, coffee, cocoa and sugar) into the game which has been going on now for 5 years.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
March 2017

March 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