Home / Knowledge / News / Textiles / New York cotton futures regain lost ground
New York cotton futures regain lost ground
10
May '08
New York cotton futures regained the weeks lost ground on the heels of Thursday's export sales report. However, USDA's release of its May supply demand report brought caution to the market on Friday as both U.S. and world ending stocks estimates were significantly higher than the prior month.

That report, coupled with the ballooning level of certificated stocks, will keep the market on its heels until the end of the U.S. planting season. The sideways path is best for now. The old crop July should find support in the 68-70 cent level while the new crop December futures contract should be supported at 74 cents.

After consecutive weeks of lower prices, mills appear to be backing off the large purchases made the past three weeks. However any trade below 70 cents will again stir their interest. Yet, with certificated stocks now kissing 1.5 million bales, there will be little room for upward price movement. Yet, high quality cotton will continue to attract a premium as international mills attempt to improve yarn quality.

Today's USDA May supply demand report was expected to show higher ending stocks compared to the prior month. World carryover was increased near 1.9 million bales and is now estimated at 61.55 million bales. However, this increase resulted from adjustments of prior year estimates which increased the level of beginning stocks for the current marketing season the same 1.9 million bales. Thus, the changes in 2007-08 world production and world consumption estimates were little changed from the April report.


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Nuno Venda
ROQ

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

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...

Karan Arora
Karan Arora

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

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

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:
July 2017

July 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