Home / Knowledge / News / Textiles / Cotton updates for week beginning April 7
Cotton updates for week beginning April 7
07
Apr '08
Despite cotton planting intentions being well within the range of guesses, cotton prices were absolutely overwhelmed on Monday and early Tuesday by a general meltdown in commodity prices.

On top of a bearish soybean acreage report, end of the month and quarter selling by funds, bullish traders were shaken up by a bearish article on commodities in Barron's Weekly. May cotton lost 1,252 points and December cotton 832 points for the month of March.

However, the early week sell off, while unnerving, was relatively brief as export demand picked up as anticipated. The balance of the week was uneventful and dull despite strength in outside markets. In fact, Thursdays range was only the third time in seven weeks that the daily range was been held to double digits. For the week, May wound up losing 82 points and Dec only 23 points.

Fresh USDA supply/demand stats are due Wednesday morning. Final ginnings showed that the crop this past season was 372,000 bales larger that USDA had estimated so ending stocks will be increased at least by that much. If USDA cuts exports again, which they may very well do, then add that much more to the carryout. Most merchants look for final ending stocks to be 10 million or more.

USDA May options expire on Friday.Cert stocks reached new all-time highs each day last week in preparation for the May delivery on April 24th. Potentially, certificated stocks are now nearing 970,000 bales. With differences now more than conventional carrying charges, the upcoming delivery period looks to be most interesting.


Must ReadView All

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

India’s GDP expected to grow by 7.7% in Q1 2018: Report

Textiles | On 21st May 2018

India’s GDP expected to grow by 7.7% in Q1 2018: Report

India’s gross domestic product (GDP) is expected to grow at the rate...

Courtesy: OmniBloq

Textiles | On 21st May 2018

Bolger & O’Hearn to display OmniBloq DWR at Techtextil

Bolger & O’Hearn, a leading specialty chemical company, will showcase ...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

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

Steve Cole
Xerium Technologies

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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


May 2018

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

news category


Related Categories:

Advanced Search