Home / Knowledge / News / Textiles / Cotton market opens higher
Cotton market opens higher
14
Oct '08
Cotton was up strong reaching almost 300 pts higher at one point during the morning after stocks opened much stronger. Overnight markets had been strong and commodities started to feel the support early, but certainly did not close on the highs.

There is still some uncertainty out there on how the global economy will perform long term, but after almost every equity market worldwide lost over 20% last week, we were due for a bounce and got a nice one of over 11% higher across the board. Volume was light under the holiday atmosphere with only 12,000 futures and 7,000 options as open interest continues to fall.

Demand has been very firm lately coming off the Ramadan break and the Labor day holiday in China. We are seeing most inquiries for nearby shipment, but some are for the first quarter next year. Specs keep liquidating as we are now 7% short compared to 4.7% last week as you will se on page 2 in attached PDF.

The momentum downward may have come to an end as we finally got some stability in the financial markets. The fundamentals are much stronger and with a few sideways trading sessions we could start to see a better technical picture as well.

The U.S. economic picture became a bit brighter as the stock markets found some support and this may lead to a commodity bounce. With RSI at 25, we have reached extremely oversold conditions and should be ready for at least a consolidation possibly in the 50-55 cent range for Z'08.

Click here to view more:

ECOM USA Inc


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ravindra Jain, Ashish Baid

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

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Steve Cole
Xerium Technologies

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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