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

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

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

Kerem Durdag
Biovation II LLC

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
January 2017

January 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