Home / Knowledge / News / Textiles / Daily worldwide cotton market report
Daily worldwide cotton market report
13
May '09
Last night in New York futures market, July 09 closed at 60.32 with a loss of 22 points the volume of business traded under May cover was of 12112 contracts, the October 09 closed at 61.61 with a loss of 52 points the volume remained 194 contracts, while the December 09 closed at 62.14 with a loss of 72 points and the volume traded was of 3671 contracts. The cotlook A index declared settled at 63.80 with an increase of 80 points.

The spot rate of KCA remained firm and strong the settlement declared at Rs. 3700/=, with no changes today. In the domestic market today rare activities observed and none found reportable.

The 2009/10 U.S. cotton projections include lower supplies, offtake, and ending stocks compared with 2008/09. Beginning stocks of 6.8 million bales are about one-third below 2008/09. Production is projected at 13.25 million bales, a slight increase from 2008, based on planted area in the Prospective Plantings, combined with historical average abandonment and yields.

Domestic mill use is reduced a marginal 50,000 bales. Exports are reduced 12 percent to 11.0 million bales, as a result of lower supplies in the United States and competition from surpluses in other cotton-producing countries. Ending stocks are projected at 5.6 million bales, an 18-percent reduction from the beginning level and 39 percent of total use. The 2009/10 average price received by producers is projected to range from 48 to 60 cents per pound.

A combination of slightly lower production and higher consumption is expected to reduce world stocks in 2009/10. World production is forecast at 106.5 million bales, 1.3 percent below the current season, as decreases in China, Central Asia, and Brazil are anticipated to more than offset increases in India, Australia, and the United States.

World consumption is projected at 113.5 million bales, a growth rate of just over 3 percent, reflecting both a modest recovery in world economic growth and a replenishment of cotton and yarn inventories held by mills. World trade is expected to rise 15 percent, owing partly to increased imports by China. World ending stocks are projected to fall 7 percent.

A slight decrease in U.S. 2008/09 production relative to last month reflects USDA's final production estimate. This season's domestic mill use is reduced based on recent activity, but exports are unchanged, raising ending stocks to 6.8 million bales. The forecast average price received by producers of 48 to 50 cents per pound is narrowed 1 cent on each end of the range.

Lower 2008/09 world production and higher consumption are reducing ending stocks by 1.1 million bales compared with last month. Production is reduced in Turkey, Uzbekistan, and others, while consumption is raised in India, Bangladesh, Egypt, and Turkey, but lowered in Brazil and the United States.

Cotlook reports this morning that as of April 30th, 98.5% of China's cotton planting was complete, according to the China Cotton Association. This compares to 97.3% for the corresponding period last year. Replanting in the sandstorm affected areas of Xinjiang was also completed.

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sanjukta Dutta
Sanjukta's Studio

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


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



X