Home / Knowledge / News / Textiles / Cotton sees quiet & lackluster trading session
Cotton sees quiet & lackluster trading session
26
Apr '08
Friday saw a quiet and lackluster trading session. Early NYF was generally holding firm supported by the overall commodities markets. Overnight ICE opened at around unchanged amid mixed actions in the grains market and the crude oil price.

It then steadily traded higher in expectation of strength coming from the grains re-open. Crude oil was yet again trading at $118 based on fundamental news, right after the temporary pull back earlier this week.

Cotton was trading at slight gain before seeing strength in the dollar and cool off in the grains. N'08 settled at 71.44 or 69 points lower by end of the session. Today's total May contract notices were posted at 78.

The commitment of traders supplementary report published by CFTC on Friday shows that as of Tuesday April 22nd, for futures and options combined positions, the commercials had increased their long positions by 800 contracts and reduced their short positions by 1,500.

The non commercials reduced their longs by 500 contracts and their shorts by 1,600 contracts, thus increased their net longs by 1,100. Index traders had liquated their net long positions by nearly 800 contracts. In the meantime, total open interest dropped around 6,000 contracts during the week.

The false breakout on April 16th, which tested the high of 82 cents basis N'08 was followed by profit taking sell off, thus negative technical pictures for the past sessions. N'08 has been range trading and tested the short term support level at 71.25, which was touched on March 20th.

The strong lead cotton receives from the outside commodities markets, or the CRB index, as well as the tight inverse relationship between cotton and dollar index are the rationales that have supported the recent market movement.

The cotton market feels like we could move sideways short term with more down side testing in the future. The next support lies in the mid 70 cent range.

Click here to view more:

ECOM USA Inc


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Mandeep Nagi
Shades of India

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

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

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...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao
Nayaab

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search