Home / Knowledge / News / Textiles / Mills take advantage of slide in cotton prices
Mills take advantage of slide in cotton prices
02
Jun '08
Cotton began the week with a Limit down move that seemed to be the work of speculators as their selling pressure was highly visible in several commodities. However, mills who had been waiting patiently took advantage of this weeks break to either fix the price of previous purchases or to make new purchases.

Since prices bottomed on Wednesday, an inordinate percent of the volume was in the spreads and switches. The balance of the week, cotton consolidated above the lows posted the middle of the week.

Some attribute this consolidation to a tightening of the basis that makes futures more attractive than spots to cover any new sales, others tie the relative stability to the level of resting demand. After all, the spot month reached its lowest level since last August - the first month of the crop year

Traders were lost to explain cotton's almost perverse attitude on Thursday and Friday. Cotton futures held surprisingly well on Thursday when outside markets were melting down but in equally strange fashion ignored firm outside markets Friday. The Goldman rolls begin this coming Friday.

July lost 377 points for the week and 543 points for the month. Dec cotton lost 364 for the week and 515 for the month.

No doubt, fresh export inquires has picked up sharply last week. Merchants indicate significant sales being put on the books as they continued to reduce inventories. The high premium attached to new crop "should" encourage support for thenearby contract and aggressive near term coverage by mills.


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harmeet Singh

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

Ashok Desai
Bombay Textile Research Association

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Tony Ward
Tony Ward

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

December 2017

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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