Home / Knowledge / News / Textiles / Cotton prices are holding up well
Cotton prices are holding up well
May '08
Cotton opened higher overnight based on the pending USDA S&D reports as well as higher grain prices. These reports gave us the first look at the estimates for the 08/09 crops. As predicted, the numbers were friendly for cotton going forward, but the world ending stocks for the current crop were raised almost 2 million bales.

The big difference was in China as beginning stocks were raised significantly as well as the production. The balance was made up between small increases in the U.S. crop and India, but all of this was offset by decreased production and higher consumption estimates for next season (See Page 2 in attached PDF).

Oil set another new high as the stock market and dollar continued to struggle and commodities benefited as the CRB index closed near 430. Technically cotton is not very attractive and the RSI is in the mid 40's but we have been putting in a good strong bottom under 70 cents and depending on how grains behave next week, we might try and test the highs starting at 72.43.

NYF cotton prices are 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 we have closed above that level four days in a row. The cotton market feels like we are trying to put in a short term low near 69 cents but we have had six continuous inside trading days based on the range set May 1st.

We first need to break that high set at 72.43 and we can pursue further upside targets heading toward significant resistance near 75 cents. Grain and energy prices will continue to be major factors next week.

Click here to view more:


Must ReadView All

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Textiles | On 29th Apr 2017

Slight drop in Unifi 2017 Q3 sales

The net sales of Unifi Inc., one of the world's leading innovators in ...

Interviews View All

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

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

Steve Cole
Xerium Technologies

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

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

Karan Arora
Karan Arora

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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