Home / Knowledge / News / Textiles / Cotton market gradually settles down
Cotton market gradually settles down
15
Mar '08
Friday session opened up in slow motion as cotton market gradually settles down. Volume was fairly light during early morning trading and ended with near 30,000 contracts in futures and 48,000 contracts in options.

The overall commodities market took a hit today with soybeans traded limit down and Chicago wheat traded close to limit down. The roller coaster style movement still dominated the whole session.

As not much action came from the spec side and the funds, all months drifted at the lower side of today's trading range caused by profit taking and bearish options activities. The noticeable options activities include some strangle selling of December 88 cent puts and May 92 cent calls, as well as some volume of December 95 cent and dollar call spreads at 100 debit.

However, fixation orders on open sales are expected to come in at the lower 70's basis May08, which will provide certain support for the market. Today's session settled with May and July contracts down 150 points and December contract down 110 points.

It seems that negative news is coming from all angles. U.S. dollar is setting new low every day and Fed's actions seem not to be solving the main economic problems. Consumer confidence has hit the 16 year low.

Surprise hit the market when Bear Stearns, one of the nation's biggest investment banks, announced that it had turned to a rival bank and the federal government for emergency funds. Bear Stearns' stock fell nearly 50% during the day. As opinions regarding the country's economic outlook vary, the near future doesn't look bright.


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

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 ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

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

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:
July 2017

July 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