Home / Knowledge / News / Textiles / ECOM daily cotton markets recap - March 21, 2007

ECOM daily cotton markets recap - March 21, 2007

22
Mar '07
Electronic futures began the day trading near unchanged as a lack of any substantial news nor outside market influence left few to actively trade any positions early. In fact, after yesterday's higher E session followed by lower open outcry session (thanks to the WSJ rally killing bullish article) may have deterred some of the electronic trading specs from playing this morning.

As it stands the open outcry opening was a touch lower amidst very little volume, and soon prices began pushing to the upside without any success. The day was soon bound to a very tight overall range. The most notable feature of the session though, was the fact that carries began to widen out from May onwards.

This has been trending out towards carry after getting rather narrow during the March delivery period, but with a large clip of cotton coming out of the loan recently, there has been more confidence in a carry market, and this was well reflected today with May/July widening back beyond 100 points July premium to settle at 110. The May / Dec also widened out to max out at 450 points Dec premium.

Other notable features today (the flat pricing was hardly noticeable) was some action in the options ring, with one of the major merchants a huge Dec volatility seller, selling as many as 2,000 of the Dec 50/70 strangles for 170-175 premium. Other merchants were on both sides of the July 54 straddles which were being bought for 400 points.

Option volatilities are allover the place at present, with the May settling at 14.5%, the July at 19% and the December at 21.5%. Expectations for US export sales and shipments tomorrow are for fairly routine numbers, with sales around 175,000 and shipments around 200,000 combined running bales.


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2021

US reaches multi-country agreement on Digital Services Taxes

The US has reached an agreement with Austria, France, Italy, Spain...

A portion of globe showing location of Myanmar in Asia. Pic: commons.wikimedia.org/ Valegos Mangenuit

Textiles | On 27th Oct 2021

Myanmar heading towards economic crisis

The southeast Asian nation of Myanmar, which saw military junta...

Pic: Shutterstock/I Love Coffee dot Today

Apparel/Garments | On 27th Oct 2021

Cambodia’s garment exports up by 11.4% in Jan-Sept 2021

Cambodia exported $8.2417 billion worth garments between January and...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Rajat Kapoor,

Rajat Kapoor

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

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

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

Kriti Kanodia,

Kriti Kanodia

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

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

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

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

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

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

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

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

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


October 2021

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


Advanced Search