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

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

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...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search