Home / Knowledge / News / Textiles / ECOM daily cotton market recap - Feb 2, 2007

ECOM daily cotton market recap - Feb 2, 2007

03
Feb '07
The trading began early this morning, with the ICE / NYBOT trading platform kicking off at 7am EST on the screens. It was a fairly inconspicuous beginning though, with just the single March trade taking place early on in the first hour. Nonetheless traders took the chance to test out the system live, and soon the open outcry joined in at 10.30 EST to have live side by side trading.

There was little action in the open outcry session either, with prices firming early and showing a tendency to firm as bull spreading was prominent in the open outcry session. The March / May spread quickly traded as narrow as 75 whilst the overall flat prices stayed in a fairly tight range. There was decent support out of competitive commodities today as well, especially Soybeans, which were up 15 cents per bushel on the spot close.

This gave some added support to new crop Dec as Cotton continues to lose theoretical acres for new crop. Speaking of which, the NCC this afternoon announced it's preliminary planting intentions survey, with US Cotton acres estimated down 13.5% from the USDA planted acres of 15.27 million acres at 13.21 million.

This number at the lower end of expectations, but given their preliminary nature may yet be larger than final plantings yet. Prices closed the E-session with gains of 33 in March and 47 in December. Overall volume was estimated at 17,386 lots, of which 1,230 were traded on the electronic screens.

The CCC saw another influx of loan entry this week, with 304,026 bales entering with 63,197 bales being redeemed for the week until Jan 30th. For the season some 17.3 million bales have now entered the loan, with 13.5 still remaining in the loan.


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Sep 2021

Australia, Bangladesh sign Trade and Investment Framework Arrangement

In a recent virtual ceremony, Bangladesh and Australia signed the...

Pic: Ministry of Foreign Affairs, the People's Republic of China

Textiles | On 16th Sep 2021

China urges US to initiate steps to repair damaged bilateral ties

China recently urged the United States to initiate steps to repair...

Pic: Shutterstock

Apparel/Garments | On 16th Sep 2021

Bangladesh seeks 12-year duty-free access to EU after LDC graduation

Bangladesh commerce minister Tipu Munshi is hopeful that the European ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

India-EU Summit, Representatives

India-EU Summit
Representatives

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

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

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

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