Home / Knowledge / News / Textiles / March shows Chinese cotton imports at 78.6% less

March shows Chinese cotton imports at 78.6% less

Apr '07
Day before FND and the market grinded out the last of the K'07 open interest that wanted to get out. We will see tonight who is interested in the cert stocks after the K/N'07 spread widened out to 250 pts at the end after reaching almost inverted conditions about 8 weeks ago.

This represented better than full carry as there does not seem to be a big stopper interested in taking delivery. Futures volume was estimated at 18,000 contracts with 9,000 additional on-line.

We were close but unable to break contract lows in any of the '07 months including K'07. The July reached 51.30 or 79 points lower, but unable to find the contract low @ 51.07 as trade scale down buying managed to support the spec selling. Specs short position tomorrow should definitely be shorter as the specs were close to unchanged last week and may even be 4-5% short after last weeks selling.

We are seeing good demand for U.S. exports with the market trading at these levels. However, we are way off from our export record pace last season as the month of March showed Chinese imports from the U.S. at 78.6% less than a year ago as India was 81.6% higher. Other foreign countries have taken up the slack for the U.S. exports, but this should change as we get closer to 3rd quarter purchases.

With K'07 off the board, the market looks like it wants to build a bottom near these levels and we will have to wait and see if we can technically start to cross some moving averages and get the specs on the buying side.

Demand has been good and the export sales reports should remain strong with the market trading at these levels. Moving averages are both trending lower, with the 9 day continuing it's divergence away from the 50 day at 50.22. Momentum continues negative with the RSI down to 30.95, well and truly in oversold territory.


Must ReadView All

Pic: Shutterstock

Retail | On 21st Sep 2021

US clothing stores sales up 0.1% MoM, 36.6% YoY in August: NRF

Retail sales in the US increased during August as consumer demand...

Pic: Shutterstock

Apparel/Garments | On 21st Sep 2021

Research paper urges Kenya to cultivate new export markets

To diversify its exports and markets, Kenya should endeavor to raise...

Pic: Shutterstock

Textiles | On 21st Sep 2021

Pakistan's textile & apparel exports rise 28.67% in July-Aug ’21

The value of textile and garment exports from Pakistan increased by...

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

Consistency is the first rule of social media

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Daniel Kaye, RocketLife

Daniel Kaye

<div>RocketLife, an award-winning developer of breakthrough visual...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

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

Advanced Search