;
Home / Knowledge / News / Textiles / Cotton futures market negative on Monday
Cotton futures market negative on Monday
30
Sep '08
NY December contract lost 214 points over the course of last week, and the trading volume has averaged at 13,000 contracts daily. Open interest has steadily decreased to around 203,000 contracts. As per the traders commitment report, non commercials further reduced their positions in cotton, but is slightly longer in the net position futures and options combined.

Commercials net position has also slightly gone longer. Index funds, on the contrary, reduced their net holdings in cotton by 3,000 contracts. Monday session started on a negative note, as market anxiously awaited the news on the progress of the bailout plan negotiation.

Stock market failed to recover the 300 point loss; crude oil was trading at more than $8 lower; Chicago grains were weaker overnight and on the re-open; and cotton December contract momentarily touched limit down. House votes on the bailout package came in at early afternoon, and to traders' shocking disappointment, the House rejected the bill and the stock market responded by plunging up to 705 points.

As crude oil dropped to $10 lower, cotton posted limit down with December contract traded synthetically 70 points lower. As this eventful day draws to an end, the market is deeply in thought as to what will happen next.

The U.S. economic picture is certainly not looking good with the bailout plan rejected by the House, neither is the global picture. The weak economic conditions are hitting Asia as well as Europe and there does not appear to be an end nearby. The fear of economic slowdown is worldwide and the commodity prices are affected accordingly. Today's market features weakness in the overall markets, grains and crude oil.

The usual safe heaven is not there for the investors, and only gold posted some gains, which is certainly not providing enough for the market. We're trading in the 50's range in a heart beat and demand should come in at this level.

Click here to view more:

ECOM USA Inc


Must ReadView All

Japanese capital pouring into textile, garments in Vietnam

Apparel/Garments | On 12th Dec 2018

Japanese capital pouring into textile, garments in Vietnam

Several Japanese companies, including Itochu and Sakai Amiori, are...

Chanel bans fur, exotic animal skins in its products

Fashion | On 12th Dec 2018

Chanel bans fur, exotic animal skins in its products

French fashion retailer Chanel recently announced it will stop using...

Apparel, footwear brands failing to tackle exploitation

Apparel/Garments | On 12th Dec 2018

Apparel, footwear brands failing to tackle exploitation

Apparel and footwear firms are failing to tackle exploitation of...

Interviews View All

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

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


December 2018

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

news category


Related Categories:

Advanced Search