Home / Knowledge / News / Textiles / Cotton market sees a fair stability
Cotton market sees a fair stability
25
Mar '08
After a long Easter weekend, the market started off quietly higher overnight but built up into another limit move as we tested the highs set on Thursday's bounce off the limit down lows. We continue to see good volatility although volume is slowing down with only 26,000 futures and 21,000 options.

We bounced pretty well off some good long term support last week and may have established a short term low. We are approaching a big acreage estimate by the USDA next Monday and the market may want to wait for that number before we make any retest of the downside.

Business was evident over the weekend and the grains had a nice correction which helped feed the rally in cotton prices. The spec long position only came down slightly after a big sell off last week to reach 11.9% on falling open interest which you can see on page 2 in attached PDF.

We may be setting up for a 70/75 cent trading range on the front month as we continue to see growing cert stocks and a growing spread between K'08 and the back months. Technically, we have RSI near 40 and all other signals were showing an oversold market after almost a 10 cent pull back last week.

Technically, we are heading to the oversold area with RSI below 40%. We are back to where we were before the market ran up and created the island top. The futures might finally attempt to settle down to reconnect with cash market, and the fundamentals might eventually come back into play.

We're now at a level that some mills are willing to consider purchasing for their inventories. Despite the overall sell off in commodities, cotton market is holding fairly well. Also the acreage report is due in a week, which might give the market some support.

Click here to view more:

ECOM USA Inc

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Indonesian garment exports to remain stable in 2017: API

Garment exports from Indonesia are likely to remain stable this year...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Nuno Venda
ROQ

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

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Ashok Desai
Bombay Textile Research Association

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Pranav Mishra
Huemn

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

Igor Chapurin
Chapurin

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

Karan Arora
Karan Arora

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

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