Home / Knowledge / News / Textiles / Gains in ICE Cotton trends slowdown this week
Gains in ICE Cotton trends slowdown this week
25
Jan '14
ICE Cotton closed only around 50 pts higher this week, as the market seemed to stall after last week’s strong gains. The main surprise this week was today’s US export sales figure, which topped 500k including the current and next marketing years.

By any measure, this was a tremendous figure that far surpassed market expectations, tightening the US balance sheet further. In the short-term, though, the market was unimpressed today as export sales have since slowed noticeably. Deliveries of new crop cotton to the board have also increased, with cert stocks now totaling 71k bales and likely more on the way.

In China, rumors about the details of the government’s 14/15 plan are emerging, with the unavoidable implication being a far greater supply of domestic free stocks in the coming year, potentially weakening Chinese import demand to levels not seen in 10 years.

In outside markets, concerns over global growth have re-emerged, with particular concern in China over the precedentsettin potential default of a “wealth management product” marketed to consumers by large state-owned banks. The broader concern is over the deteriorating credit environment in China and the strained state of the country’s large shadow banking sector.

A private PMI forecast showing contraction released overnight also didn’t help. The Australian (AUD) and Canadian (CAD) Dollars touched new lows, and the USD appears to be on firm footing heading into next week’s Federal Reserve meeting. The drop in the AUD, Brazilian Real, and Argentine Peso (14% yesterday!) may all be reflected in cotton prices too, as falls in these currencies put pressure on export prices for Q2 and Q3 shipment.

Ecom USA


Interviews View All

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

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

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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