Home / Knowledge / News / Textiles / Cotton futures market negative on Monday
Cotton futures market negative on Monday
30
Sep '08
NY December contract lost 214 points over the course of last week, and the trading volume has averaged at 13,000 contracts daily. Open interest has steadily decreased to around 203,000 contracts. As per the traders commitment report, non commercials further reduced their positions in cotton, but is slightly longer in the net position futures and options combined.

Commercials net position has also slightly gone longer. Index funds, on the contrary, reduced their net holdings in cotton by 3,000 contracts. Monday session started on a negative note, as market anxiously awaited the news on the progress of the bailout plan negotiation.

Stock market failed to recover the 300 point loss; crude oil was trading at more than $8 lower; Chicago grains were weaker overnight and on the re-open; and cotton December contract momentarily touched limit down. House votes on the bailout package came in at early afternoon, and to traders' shocking disappointment, the House rejected the bill and the stock market responded by plunging up to 705 points.

As crude oil dropped to $10 lower, cotton posted limit down with December contract traded synthetically 70 points lower. As this eventful day draws to an end, the market is deeply in thought as to what will happen next.

The U.S. economic picture is certainly not looking good with the bailout plan rejected by the House, neither is the global picture. The weak economic conditions are hitting Asia as well as Europe and there does not appear to be an end nearby. The fear of economic slowdown is worldwide and the commodity prices are affected accordingly. Today's market features weakness in the overall markets, grains and crude oil.

The usual safe heaven is not there for the investors, and only gold posted some gains, which is certainly not providing enough for the market. We're trading in the 50's range in a heart beat and demand should come in at this level.

Click here to view more:

ECOM USA Inc


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

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

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Steve Cole
Xerium Technologies

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

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...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search