Home / Knowledge / News / Textiles / Export report again shows decent picture including Pima sales

Export report again shows decent picture including Pima sales

13
Apr '07
Futures were again up in the early electronic session, reflecting a recent pattern of higher electronic trading before moving back to unchanged by the time the open outcry session begins. May was trading around 20 higher initially before opening at unchanged in the open outcry session.

There appeared to be a steady stream of spec fund selling early on, and this immediately put pressure on both the May and July, with May taking out yesterday's lows quickly enough. Soon prices tracked down towards the old contract lows in May at 51.45, and there was again notable commercial support in this area, representing scale down mill fixation buying.

Funds and locals continued to sell through this support, which paved the way for new lows and eventually down to 51.10 in May. A lot of the selling went through the July as well, which curiously narrowed the May / July spread a little, despite the overall sell off.

This spread again traded heavily, in this the 4th day of the official GSCI roll. Prices remained under pressure throughout the session, and any attempted recovery was soon thwarted by more fund selling late in the session. Prices finished the session weak, with active month losses of 45-77 points. Estimated volume was again massive with 72,898 lots trading.

This morning's US export report was again very decent, with new sales of 352,000 running bales including Pima. China was again the principle buyer last week with 172,100 bales. Shipments continue to lag, but were nonetheless decent at 286,900 bales. The USDA this week revised its US export estimate down from 14.0 to 13.5 million bales. Even with this revision the US is going to have to ship an astounding 414,400 running bales per week to meet this estimate.


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Sep 2021

Global economic recovery continues but remains uneven: OECD

The global economy is growing far more strongly than anticipated a...

Pic: Shutterstock

Textiles | On 23rd Sep 2021

President Biden plays down probability of US-UK trade deal

US President Joe Biden has played down the chances of a post-Brexit...

Pic: Shutterstock

Textiles | On 23rd Sep 2021

ADB revises down Cambodia’s growth forecast, sees rebound in 2022

Cambodia’s economy is projected to grow by 1.9 per cent this year...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Mumin Can Eker,

Mumin Can Eker

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

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

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 ...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

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

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