Home / Knowledge / News / Textiles / Daily global cotton market report
Daily global cotton market report
02
Feb '09
On Friday, in the New York futures market, March 2009 closed at 49.41 with a loss of 66 points while the volume traded was 10630 contracts and the may 2009 closed at 50.44 with a loss of 57 points and the trading volume was 7311, while July 2009 was closed at 51.51 with a loss of 44 points and the trading volume was 1029 contracts. The Cotlook A index declared settled at 58.70 with a loss of 65 points.

The spot rate at KCA stepped down to be declared settled at Rs 3350 per maund with a decline of Rs 50 today. In the local market today 1000 bales of Sanghar sold at Rs 3285, 200 bales of Khipro sold at Rs 3250, 800 bales of Mirpurkhas changed hands at Rs 3300, 800 bales of Jalalpur sold at Rs 3300, 1200 bales of Sadiqabad sold at Rs 3350, 1000 bales of Dera Ghazi Khan sold at Rs 3365, 400 bales of Vehari sold at Rs 3200, 600 bales of Kotaddu sold at Rs 3350 and 800 bales of Mubarikpur sold at Rs 3300.

According to the recently published figures of USDA, the US raw cotton export sales for weekending 1/22/2009, net upland sales of 107,200 running bales were down 77 percent from the previous week and 52 percent from the prior 4-week average. Increases were reported for China (19,700 rb), Pakistan (19,400 rb), Indonesia (9,700 rb), Thailand (9,600 rb), Turkey (9,200 rb), and Vietnam (8,600 rb). Net sales of 6,600 rb for delivery in 2009/10 were for Mexico (4,800 rb) and Chile (1,800 rb).

Exports of 138,100 rb were down 12 percent from the previous week and 19 percent from the prior 4-week average. The primary destinations were Mexico (26,700 rb), Bangladesh (18,100 rb), China (17,200 rb), Turkey (16,500 rb), and South Korea (11,200 rb). Net American pima sales of 3,300 rb were mainly for Indonesia (2,300 rb) and China (700 rb). Exports of 300 rb were for Malaysia (200 rb) and Japan (100 rb).

Renewed consumption concerns pressured ice futures last yesterday and day before to score new weekly losses. A host of weak US economic data coupled with an unfavorable USDA weekly export sales report undermined buying confidence and triggered a round of commission house profit taking. New home sales fell to their slowest pace on record and jobless claims continued to rise.

The government reports yesterday painted a picture of an economy that continues to slide as falling consumer spending and rising unemployment amplified the effects of a year long recession. The commerce department reported that American businesses ordered fewer durable goods in December, cutting the prospects for growth as companies braced for a difficult 2009.

The poor US economic data was reinforced by a weaker than expected USDA weekly shipments were of a major concern, which reflected the difficulty of US shippers in obtaining letters of credit from buyers. This was interpreted to suggest that inventory at foreign mills was higher than expected, indicating that mills want to delay shipment or that buyers are finding possible financialdifficulties because banks are reluctant to lend. In either case, it weakens the case that all the outstanding seasonal commitments will be shipped.


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Urmil Arya

Sushila International, a well established textile organisation established ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Suresh Patel
Sidwin Fabric

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

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

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