Home / Knowledge / News / Textiles / Market continues to trade on light volume
Market continues to trade on light volume
09
May '08
Market continues to trade on light volume within the trading range established on May 1st when we put in the low of 68.52 and the high at 72.43. Since that day, we have been trading sideways on light volume as the cotton and grain markets are struggling to find a direction.

We did have better than expected accumulated export sales which were in line with last weeks record season high over 600k and the shipments were also on the high side near 300k. Volume was light again today with only 8,000 contracts and 8,000 options as the market waits for some more direction.

We will get the USDA report tomorrow morning to give us some guidance on ending stocks for all the commodities but not expecting any big changes for cotton. However, if we did get some positive guidance on the grains this could help break us out of this short term sideways trend channel.

Cert stocks continue to rise and the spreads on the board remain wide despite the record nearby sales being made recently. The rain this week in West Texas may have held the market in check as we are close to the seasonal low for this time of year.

NYF cotton prices are overall holding up well considering the bearish fundamentals as well as the beneficial rains this week in West Texas. Technically, we broke the strong support line at 70 cents in N'08 last week, but have closed above this level three days in a row.

The cotton market feels like we are trying to put in a short term low near 69 cents as we have had four continuous inside trading days.

However, the 69 cent level has proved to be a strong support yet again. We are likely to trade sideways and in sync with outside commodities for the nearby trading sessions.

Click here to view more:

ECOM USA Inc


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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:
June 2017

June 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