Home / Knowledge / News / Textiles / ICE cotton futures move within tight range this week
ICE cotton futures move within tight range this week
03
Aug '13
ICE cotton futures moved within tight range in thin trading this week as traders remained mostly undecided. The spot December contract settled at 84.98, around the same level where it opened at the beginning of the week.

The general feeling of friendly near term, bearish longer term caused the inversion between December and March contracts to go out to over 200 points during the week. Cert stocks disappeared at a fast pace after continuous de-cert, and by the end of the week, they totaled at 71k bales only, almost non existent comparing to the 600k plus bales of stocks at the beginning of July.

The trend for the economy during the third quarter so far has been friendly commodities and equities as the S&P index broke into all time highs this week over 1700. The S&P is up almost 20% for the year which is the strongest rally we have seen in several years.

The northern hem crop still has a long way to go but after the last two seasons of disappointing results, there is a tendency to be pessimistic.

This could add to the bearish momentum in the 4th quarter if we do get better than expected results. China is still the wild card and will have to see if they support a correction into the low 80’s. For now the range is most likely to hold between 83/86 as we wait for more feedback on the crop.

ECOMUSA Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Oct 2021

China hopes to attract over 1 trn yuan of foreign investment in 2021

China is expected to attract more than $156.51 billion of foreign...

WTO Deputy Director-General Anabel González PIC: WTO

Textiles | On 25th Oct 2021

Digitised logistics services smoothening supply chain operations: WTO

The digitalisation of logistics services, accelerated by the...

Pic: Shutterstock

Textiles | On 25th Oct 2021

Hong Kong to strengthen status as global shipping centre: Minister Li

The Hong Kong Special Administrative Region will strengthen its...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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

Leave your Comments


October 2021

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


Advanced Search