Home / Knowledge / News / Textiles / Cotton market trades higher
Cotton market trades higher
15
Oct '08
Cotton traded over 200 pts higher during the early morning before closing near unchanged by the end of the day. Dow Jones stock market also had a strong early run up over 300 pts higher before closing near unchanged before the end of the day. Other commodities did the same as we are still stuck in fear and uncertainty which does not allow the markets to trade on their own.

Volume was average with 12,000 futures and 12,000 options as open interest keeps falling each day. 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.

The momentum downward may have come to an end as we finally got some stability in the financial markets today. 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 this week 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.

Grains have held firm over the last several sessions which signals they are also ready for a bounce.

Click here to view more:

ECOM USA Inc

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Marten Alkhagen
Swerea IVF AB

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

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

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

Ritu Kumar
Label Ritu Kumar

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

Wendell Rodricks
Wendell Rodricks

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

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
February 2017

February 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