;
Home / Knowledge / News / Textiles / Plentiful supply of cotton leads to wait & watch by buyers
Plentiful supply of cotton leads to wait & watch by buyers
18
Apr '08
The weakness in cotton from yesterday carried through to Thursday early session. Overnight ICE opened around 20 lower amid higher grains prices, crude oil and the commodities index. Dollar index, on the other hand, has recovered part of yesterday's losses.

As early morning options trading was quiet, light volume online futures trading took the market down to 150 points lower. Trading was then held back as traders awaited the Chicago market to re-open. Support came from the friendly grains open but only held temporarily before market saw weaknesses in crude oil and Chicago grains.

New low was created close to noon which pushed K'08 to approach 71 cents, where overseas buyers had been look at importing U.S. cotton. NYF then slipped into quiet trading before session close at 71.75 basis K'08.

This morning's U.S. export report (chart on page 2 in attached PDF) proved that overseas mills are in no rush to purchase inventory when NYF backed off from their acceptable price level. Due to the tight profit margin, most mills are only buying hand to mouth. And since there's plenty cotton around, they can afford to play the waiting game.

New sales were only 148,800 running bales upland and pima combined compared to 493,600 the week before. The major buyers were China with 48,200 bales, Turkey with 22,000 bales and Korea with 22,000 bales. Shipments were slightly improved from last week at 313,600 running bales combined with 122,200 bales leaving forChina and 31,200 bales leaving for Mexico.


Must ReadView All

Vietnam targets $ 40 bn in textile-garment exports in 2019

Apparel/Garments | On 22nd Jan 2019

Vietnam targets $ 40 bn in textile-garment exports in 2019

The Vietnam Textile and Apparel Association (VITAS) has set a target...

Myanmar RMG units exporting to EU rose by 180 in 5 yrs

Apparel/Garments | On 22nd Jan 2019

Myanmar RMG units exporting to EU rose by 180 in 5 yrs

The number of readymade garment (RMG) factories in Myanmar that...

India to soon have own standard for apparel size: minister

Apparel/Garments | On 21st Jan 2019

India to soon have own standard for apparel size: minister

India will soon roll out a size project for Indian apparel on the...

Interviews View All

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into 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


January 2019

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

news category


Related Categories:

Advanced Search