Home / Knowledge / News / Textiles / ECOM daily cotton market recap - Feb 6, 2007

ECOM daily cotton market recap - Feb 6, 2007

07
Feb '07
The electronic market started out trading a little firmer early on this morning, although the new crop December began a little lower albeit on one early tick.

Overnight business was scarce, so it appeared early to be much of the same of late, especially with an unchanged call on the open outcry market. The notable appearance of early trading was that again the bulls were in charge of the March / May switch.

Indeed it appears that the commercial trade are willing to sacrifice a piece of their cash and carry from December through March in order to avoid what appears to be a minor squeeze on the heavily discounted March delivery.

Despite this order flow of buy March / Sell May, by the mid session prices started eroding more than just 20-30 lots where they had hovered, with notable spec selling noted.

Indeed much of the grain complex was lower today and there could have been some related selling, but there were a few prominent funds that bludgeoned prices down, eroding all of yesterday's gains.

Indeed by the end of the open outcry session the active months had lost near 1 cent across the board, having run sell stops beneath the 54.00 cent area basis March. Following the electronic close, there were hefty losses of between 98 and 120 on the active contracts.

The E screens continued to attract a lot of interest, with closing volume of 6,369 lots compared to the open outcry volume of 25,068 lots.

This morning's spec hedge report indicated a slight short position for the specs, moving in from 2.2% to –1.1%. For the week the specs added 4,727 longs and added 11,409 new shorts, taking their net position from 4,091 lots to –2,091 lots. Of interest is the markets total open interest, which has continued to set records, yesterday at 194,606 lots.


Must ReadView All

Pic: Marek Uliasz | Dreamstime.com

Textiles | On 29th Nov 2021

New variant heightens global economic uncertainty

Just as everyone thought that things are slowly moving back to...

Pic: Pawel Pszczola | Dreamstime.com

Textiles | On 29th Nov 2021

Chinese factories to get uninterrupted power supply in winter: NDRC

Factories in China are likely to get an uninterrupted power supply...

Pic: Andy Nowack | Dreamstime.com

Textiles | On 29th Nov 2021

US textile & apparel exports up 20.15% in Jan-Sept 2021

The exports of textile and apparel from United States increased by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Akram Tariq Khan,

Akram Tariq Khan

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

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

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

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Asmita Marwa, Asmita Marwa Design

Asmita Marwa
Asmita Marwa Design

Indian fashion designer Asmita Marwa has been rated by Vogue as one of the ...

Manish Malhotra, Label Manish Malhotra

Manish Malhotra
Label Manish Malhotra

A multitalented designer and founder of an eponymous label, Manish...

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 2021

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


Advanced Search