Home / Knowledge / News / Textiles / ECOM daily cotton market recap - Jan 16, 2007

ECOM daily cotton market recap - Jan 16, 2007

17
Jan '07
After a long weekend, and following on from Friday's frenetic trading session, it was with some interest that traders approached this morning's opening. With an increase in fund interest again noticeably present in follow through from Friday, the market was initially called to open 50 higher in the March.

Following an actual 30 higher opening in the March, the May and July followed through unchanged, as commercial selling was notable early on. Prices were soon under pressure, with the grain markets backing off today, well off early morning highs and removing a hedge fund presence early on. Overseas markets entered the fray at the day's lows around 5430 in March and 55.10 in May to buoy prices over the remainder of the session.

In particular there was a lot of interest in buying the May, with the March / May spread as a result widening out throughout the session under reasonable volume. This spread moved as wide as 100 May over which is vastly changed from where it traded near 50 last week.

Later in the session there was fund buying on the close, both out of traditional funds as well as some index buying. Prices closed with a positive slant, led by the back months. Estimated volume today was decent at a touch under 20,000 lots.

The weekly spec hedge report has been delayed until tomorrow morning, and we can envisage that following Friday's fireworks that we see a slight increase in the spec long position, likely towards 6% or so from last weeks3.9% long.


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Sep 2021

California 1st US state to require hourly wages for garment workers

Taking historic and decisive action to help keep workers safe on the...

Pic: ADB

Textiles | On 28th Sep 2021

ADB approves $250-mn loan to support Bangladesh’s economic recovery

The Asian Development Bank has approved a $250-million policy-based...

Pic: Shutterstock

Textiles | On 28th Sep 2021

US 2020-21 cotton exports highest in 15 years

Spurred by record global imports, US cotton exports in 2020-21 were...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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


September 2021

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


Advanced Search