Home / Knowledge / News / Textiles / Spec buying & open interest lifts Ice Cotton trends
Spec buying & open interest lifts Ice Cotton trends
18
Jan '14
ICE Cotton gained over 4 cents for the week on the back of spec buying, improved technicals and rising open interest, and the continued rawdown of US cotton stocks through strong export sales (223k overall).

Although domestic basis levels have fallen well off harvest-time highs, the smaller US crop this year is being felt as less cotton remains in producer hands than normal at this time of year.

Index fund selling also wrapped up on Tuesday, and with most of the US out of grower hands already, there was a shortage of sellers to fill the void. Supplies have started to show up in deliverable position against the H4, using the new, easier certification method, but remain small at 50k bales.

Overseas, Chinese December imports came in at a stout 610k MT, Indian prices have firmed, and scorching temperatures and reduced water reserves in Australia are causing some concern about the 14/15 crop.

This could be the peak of bullish news in the cotton market, yet traders could still push the market several cents higher before concerns about Chinese stocks and the competitiveness of polyester return to the fore. New crop Z4 touched 80 cents, and should attract grower selling and increased selling.

This week was light data-wise but the Beige book showed continued modest economic growth in the US. Chinese Q4 total aggregate lending including “shadow lending” in addition to bank loans) came in below expectations, worrying the metals sector and currencies like the Australian dollar.

At the same time, we are probably moving towards the endgame for some commodities bear markets as bargains start to appear and attract growing downstream demand. USD rates have risen but do not look overdone with the 10y Treasury still under 3%, and the equity party continues.

Ecom USA


Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Erik Sy,

Erik Sy

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

John Elmuccio,

John Elmuccio

Evolution St Louis is a company setting up a high-tech knitting facility...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

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

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search