Home / Knowledge / News / Textiles / ECOM daily cotton markets recap - Feb 26, 2007

ECOM daily cotton markets recap - Feb 26, 2007

27
Feb '07
Futures prices were immediately higher this morning. There was rumor abounding early this morning that a very large sale had gone off in PRC at the end of last week, with the Central Government Reserves being the buyer. The rumor will have to remain that until confirmation on the export report, however it certainly kept a firm bid to prices throughout the day.

As such both electronic futures began the day with 30 point gains across the board before the open outcry came in 30 higher. Prices were well bid out of the short covering specs, who are seeking to trim their positions down of late given the likelihood of a short term May low in place.

Around 54 cents May, the trade—in particular the co-ops– were very strong sellers, with one in particular reported to have sold over 1500 contracts. Indeed with the official AWP at 42.70, May at 54.00 is enough to produce a decent equity even at delivery to the New York contract. Spreads were actively traded today, especially the May / July around 85 points, however the overall estimated volume at 16,920 lots was quite light relative to recent days.

Tomorrow morning's spec hedge report should see some lessening of the specs overall short position. With the length of the index funds at present, the traditional specs are very short the market and represent a large % of the sensitive position in the market.

There were no notices issued, though with this morning's open interest in March still reading 3,322 lots there are still a lot of deliverable positions open, especially with just 1172 lots being issued to date.


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Pic: Shutterstock

Apparel/Garments | On 25th Sep 2021

Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian...

Pic: Boris-B / Shutterstock.com

Retail | On 25th Sep 2021

US’ Halloween spending to reach $10.14 bn this year: NRF

Consumer spending in the US on Halloween-related items is expected to ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

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

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Rajat Kapoor,

Rajat Kapoor

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

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

 Natacha Defeche, Edana

Natacha Defeche
Edana

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

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

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

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

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