Home / Knowledge / News / Textiles / Cotton export sales slide down
Cotton export sales slide down
May '08
NY futures closed basically unchanged this week, as July dropped just 14 points to close at 69.99 cents, while December closed 17 points lower at 78.84 cents.

Even though there was plenty of activity in outside markets this week, with crude oil leading many commodities higher, the cotton market was indifferent and remained in a rather subdued mood. At least volume was a bit more active than last week and open interest continued to increase every day of the week, which can be seen as constructive.

However, with a certificated stock that's approaching a record 1.6 million bales and with plenty of US inventory still looking for a home, there seems to be no one in a hurry to chase prices higher, which may explain the current lethargic state of the market.

After a few very active weeks, US export sales dropped off slightly last week, as just 197'800 running bales of Upland and Pima found a home. Nevertheless, the fact that 20 different markets were on the buyers' list proves that there are not too many other options available besides US cotton and that the current price level is widely accepted.

On a negative note, shipments of 268'900 running bales were once again considerably below the pace needed to meet the current export projection of 14.2 mio bales. For the current season, total sales now amount to 14.3 mio statistical bales, of which around 10.4 mio bales have so far been shipped.

We do agree with some of the presenters at the hearing who blame index funds for this excessive increase in many commodity prices, because they have pumped open interest up to levels never seen before by 'investing' an estimated 260 billion dollars on the long side of futures markets, up from just 13 billion five years ago.

Must ReadView All

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Fashion | On 24th Feb 2017

Suntchi, CFDA partner to give US designers access to China

Suntchi (Shanghai) Brand & Technology Co Ltd, a full-service...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Karan Toshniwal
Orange O Tec

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Rupa Sood and Sharan Apparao

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

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


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search