Home / Knowledge / News / Textiles / Plexus cotton market report

Plexus cotton market report

Jun '07
NY futures continued to surge higher this week, as July gained another 250 points to close at 56.50 cents, while December rallied 249 points to close at 61.50 cents.

Since turning the corner on May 14 the futures market has rallied nearly 1000 points without taking much of a breather. The biggest dips during this entire rally amounted to no more than 164 points (May 25-27) and 159 points (June 20-21), which is an indication of this rally's strength and how tough it has been on those who got caught on the short side.

So far this rally has been mainly driven by short speculators getting out, as they have covered about 4.5 mio bales between May 11 and June 20, according to the NYBOT spec/hedge report. Long speculators on the other hand have contributed relatively little to this rally up to this point, since they have increased their holdings by just 1.4 mio bales during that same period.

The scary part here is that some of the larger hedge funds and macro players may be getting ready to join this emerging bull market in cotton, and they do have a lot of money to play with. Collectively, the spec net position has changed from 1.1 mio bales net short to 4.8 mio bales net long over this five week period.

Meanwhile, the trade has been a heavy seller into this rising market, as they have increased their shorts by 3.0 mio bales, going from 11.7 to 14.7 mio bales short, while longs have sold 2.9 mio bales since May 11 and now own just 9.9 mio on the long side.

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

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Water stewardship, Stakeholders

Water stewardship

Water use efficiency remains relatively unexplored

Kriti Kanodia,

Kriti Kanodia

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

Rishav Bajoria & Subham Sengupta,

Rishav Bajoria & Subham Sengupta

Launched in October 2020, the Gumti app could not have come at a more...

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Hemant Bheda, Arevo

Hemant Bheda

Arevo, based in Silicon Valley in California, develops technology to...

Thomas Ong P S, NanoTextile

Thomas Ong P S

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit

The Indian Technical Textile Association (ITTA) is the only association of ...

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...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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