Home / Knowledge / News / Textiles / Weekly cotton exports report

Weekly cotton exports report

24
Feb '07
The New York market continued its upward momentum this week as it neared Friday's close trading higher all week. Despite poor domestic consumption, an increased interest in exports supported the market as delivery notices on the expiring contract were all but non existence until Friday. Apparently Allenberg was the big stopper on Friday taking most of the 1000 plus notices.

This keeps the certificated stocks in very strong hands and should be very supportive to the market at these price levels. With cotton still flowing to the loan the market will attempt to creep higher.

However, the key word is "creep" as the 55-56 cent level will keep a lid on any price advancement while the 52 cent floor will likely remain in place. Thus, the market will continue to tread water into the March expiry.

The weekly export sales report was more than expectations, and expectations were high. For the week ending February 15, 2007, net sales of upland cotton totaled 378,900 bales. China was the primary buyer, taking 123,300 bales.

However, as noted last week when China, for the first time this year, made volume purchases, sales to China accounted for only about one third of the total weekly sales compared to year ago levels when their weekly purchases were much larger in volume and also accounted for about one half of weekly US sales.

While the sales were a welcome relief, the probability of US exports for the 2006-07 marketing year will likey fall below the current USDA estimate. Yet, an additional plus to the market coming from the report was that the sales to China were made near the February 15 market lows for the year, suggesting that any attempt to move lower will be met by heavy export sales.


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

Always best to produce under own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Noemi Sanchez,

Noemi Sanchez

Established since 1846, Evlox is a specialised denim manufacturer with its ...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

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

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

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

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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