Home / Knowledge / News / Textiles / Cotton trades higher
Cotton trades higher
03
Dec '08
Cotton made a run at the 48 cent high in H'09 on strength from outside commodities and equity markets. However, after some scale up trade selling and other bearish options based H'09 forward, the market eventually came down. The USD made a small run late in the day but also came off near the close.

Treasuries remain strong as it seems the Fed will keep buying the paper and pushing the yield lower. Grains, metals and energy all came down as well as there just does not seem to be any strong buyers at the top of the range. Volume was low with only 7,000 futures and 13,000 options while open interest remains weak.

Cert stocks are near 900k and falling so this could be friendly long term and the loss of contango is another positive factor that may draw specs back into cotton which has now lost 50% of its open interest in just over 6 months. However, we need to see some stability in energy that may spillover to grains and softs. The short term does not look like that will happen and the USD does not want to come down either, so for now commodities look like they may test the downside again before year end.

Business has also gotten slow but the technicals are still showing a bottom may be in place and just have to wait and see if that is the case.

Technically the dollar is establishing a sideways trading range between 85/88, as we are seeing resistance above 87. The new administration is naming people who will be the new players in the financial crisis going forward and this may help the short term outlook.

The stock market bounced on some potentially good news coming from the auto industry and some profit taking after such a big loss yesterday. Cotton is holding up technically and have to see if we can get the moving averages to cross.

Ecom USA


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

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...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Steve Cole
Xerium Technologies

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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