Home / Knowledge / News / Textiles / Daily worldwide cotton market report
Daily worldwide cotton market report
01
Apr '09
Last night in New York futures market, May 2009 closed at 46.40 with a gain of 208 points, the July 09 closed at 47.20 with a gain of 191 points, while the October closed at 49.89 with a gain of 178 points. The A index declared settled at 53.05 with a gain of 120 points.

The spot rate of KCA declared settled at Rs. 3300/= as it was the other day with no changes today. In the domestic market today 2000 bales of Ghotki sold at Rs. 3400/=, 400 bales of Matli sold at Rs. 3300/=, 200 bales of Rasoolabad sold at
Rs. 3300/=, 400 bales of Sanghar sold at Rs. 3300/=, 400 bales of Shahdadpur changed hands at Rs. 3300/= and 1000 bales changed hands in Karachi at Rs.3300/=.

The March USDA planted acreage for cotton was slightly higher than anticipated, but still supportive at 8.811 million acres. Upland acreage was estimated at 8,668,000 acres verse 9.296 million acres last season. Pima acreage was 143.5 thousand acres verse 174.0 thousand acres last year.

ARK posted the largest decline vs. last season with a 37% reduction with Louisiana and Mississippi coming in record with a 20% to 22% decline respectively. The NCC estimated US plantings at 8.1 million acres in February.

The recovery in US equity markets today coupled with the sharp rally in the CNCE today more than offset the higher than expected US planting estimate. Futures posted a new 4 week high today reinforcing a higher near term price outlook. ICE futures should gain support from a bullish soybean planting estimate as well.

A bullish signal was given with an upside crossover of the daily Stock statistics. Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's close above the 9-day moving average suggests the short-term trend remains positive.

The outside day up and close above the previous day's high is a positive signal. With the close over the 1st swing resistance number, the market is in a moderately positive position.



Ghulam Rabbani & Co


Must ReadView All

UK retailers may face extra £190 mn in business rates

Apparel/Garments | On 21st Sep 2018

UK retailers may face extra £190 mn in business rates

Retailers in the UK are likely to face an extra £190 million on their ...

Courtesy: EFI

Textiles | On 21st Sep 2018

Digital textile printing expected to grow at 20% CAGR

Digital textile printing is at this time about 3-4 per cent of all...

Bangladesh demands better prices for garment items from US

Apparel/Garments | On 21st Sep 2018

Bangladesh demands better prices for garment items from US

Bangladesh sought better prices for its exports, especially garments, ...

Interviews View All

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

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

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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


September 2018

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

news category


Related Categories:

Advanced Search