Home / Knowledge / News / Textiles / Cotton futures keep trading lower
Cotton futures keep trading lower
04
Jun '08
Another weak session in NYF cotton as we saw strong U.S. dollar and overall weakness in the commodities markets Tuesday. Cotton futures kept trading lower as we broke several key technical support levels late last week. Technical related selling as well as weaker outside markets and bearish fundamentals all confirmed cotton's downside movement.

Early morning options trading were featured by large volume of bearish activities which included Z'08 70 cent put buying at 450 points, Z'08 68 cent put and 88 cent call bear fence at 180 point debit for the puts, and U'08 81 cent call selling at 120 points.

All months traded sharply lower upon Chicago grains market re-open, and a loss of over 230 points was posted when N'08 reached the low of the day at 63.10. Cotton eventually regained part of the loss to close near the mid range today. Volume was impressive today with 43,500 contracts in futures and 32,800 contracts in options.

The market feels weak overall considering the bearish fundamentals. Spec funds are reducing their long positions and increasing their shorts. Also, CFTC announced several market initiatives to address the agricultural futures markets, which proposed better tracking procedure for index and spec trading.

On the other hand, mill buying activities should be the supporting factor of the market prices. We're expecting a decent export report out of this Thursday's USDA release, which will likely give the market certain support.


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Indian investors interested in denim production in Vietnam

Textiles | On 16th Aug 2018

Indian investors interested in denim production in Vietnam

Indian fabric firms are shifting attention from China to Vietnam,...

India's textiles, apparel exports fall by ₹8000 cr: Govt

Apparel/Garments | On 16th Aug 2018

India's textiles, apparel exports fall by ₹8000 cr: Govt

India’s textiles and apparel exports dropped by nearly ₹8,000 crore...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


August 2018

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

news category


Related Categories:

Advanced Search