Home / Knowledge / News / Textiles / Cotton exports register impressive figures
Cotton exports register impressive figures
05
May '08
Cotton prices zig zagged lower last week, making new recent lows before attempting to form an encouraging double bottom as April came to a close on Wednesday. For the month of April, July lost 163 points while Dec gained 40 points. However, cotton lost 24,670 in open interest last month which brought the two month loss to over 55,000 contracts.

After Wednesday's encouraging performance, the market failed to hold early strength Thursday morning despite the best export report of the season. Cotton fell and fell hard creating a bearish outside range day to the downside Thursday.

However, cotton was not alone in its troubles, not by a long shot. Bulls pulled the plug on one market after another as the U.S. dollar moved to its highest level in nearly two months.

When the smoke cleared from Thursday's broad collapse, the commodity research bureaus index of 19 commodities had lost over 900 points. The winners Thursday were the US dollar and the stock market although corn held its own. Quite possibly the change in sentiment of the greenback has been the most significant factor in cooling the previously red-hot speculative fever in commodities

As the week drew to a close, Outside markets, precious metals, row crops and unfortunately crude oil futures were quite stable to noticeably higher on Friday and by mid-session this spilled over into cotton to a limited extent. However, most of the recovery in the CRB Index Friday came from crude oil.

Fridays bounce for cotton prices was only the 4th positive close in the last two and a half weeks. Despite the attempt to stabilize on Friday May cotton still lost 141 for the week while July cotton lost 188. December cotton lost 220 points for the week.

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Veronique Lee
Modavanti

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

Kerem Durdag
Biovation II LLC

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search