Home / Knowledge / News / Textiles / Cotton export sales slide down
Cotton export sales slide down
23
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: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

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

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Wendell Rodricks
Wendell Rodricks

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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