Home / Knowledge / News / Textiles / K'08 / N'08 cotton spreads decent but not impressive
K'08 / N'08 cotton spreads decent but not impressive
08
Apr '08
Cotton Monday session held strong without support from the Chicago grains market. There were also talks about business done over the weekend, which led to a strong open. The session traded lower after opening of the grains market, but steadily traded back up in synch with the gold and oil prices.

As per the Spec Hedge report as of Friday April 4, the specs have reduced their long positions by 2,700 contracts, and have increased their short positions by 2,310 contracts. The net spec position is 7.8% long, down 1.7% from the week before (please see charts on page 2 in attached PDF).

Stocks climb Monday on news that Washington Mutual, who has suffered big losses from sub-prime mortgages, might settle a corporate deal to receive a $5 billion investment from private equity firms.

As Bear Searns news is still in the headline, some market participants are already focusing on possibility of recovery from the credit crisis and the stagnant economy growth.

However, this is the first quarter earnings season, any bigger than expected losses from the banks will make the investors nervous.

Technically, we are trading in consolidation ahead of the USDA S&D report to be released this coming Wednesday. Last week's May prices at below or around 70 cents were attractive levels and have spurred some buying activities from mills.

Cotton offers have switched to N'08 and today is the first day of the rolling by the large index funds. K'08 /N'08 spreads were traded around 7,000 contracts, which was decent but not too impressive.

We could continue to trade sideways short term, but the growing cert stocks and neutral grains prices could play against the upside momentum seen.

Click here to view more:

ECOM USA Inc

Must ReadView All

Textiles | On 27th Apr 2017

UL joins ZDHC programme

UL Consumer & Retail Services (CRS), a global safety science company, ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Kerem Durdag
Biovation II LLC

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

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

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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

news category


Related Categories:
April 2017

April 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



X