Home / Knowledge / News / Textiles / Cotton futures demand weak & expected to fall further
Cotton futures demand weak & expected to fall further
22
Aug '08
Strong day in commodities across the board as oil lead the way up over 6 dollars at one point and closing close to 122.00 USD. This lead to a 1% retracement in the USD and a neutral to lower stock market. Commodities had been looking oversold and were due for a bounce. We should see some follow through tomorrow, but see upside scale up selling coming from the trade.

Volume was slightly above average at 14,000 futures and options, but the open interest remains on the low side. Export sales were not very impressive at 189k new sales and 270k shipments, but we did have another 20k in decerts. The overall demand feels weak and if this rally holds, demand will fall much lower.

Cotton will be influenced by outside markets, but cotton made a fresh 12 month low on Tuesday and we broke out of the intraday trading range set Monday, but there should be good scale up selling in Z'08 above 70 cents.

Technicals are turning friendly with the MACD starting to cross higher in cotton is already there and making a nice turn higher.

Considering the low open interest in cotton and the lack of demand, cotton feels like we may continue in a sideways trading range up to heavy resistance at 72.00. This will depend on how much the rebound in outside markets can follow through, but the short term upside looks limited.

Click here to view more:

ECOM USA Inc

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Silke Brand-Kirsch
Schlegel und Partner

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


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