Home / Knowledge / News / Textiles / Cotton sellers take advantage of correcting NY market

Cotton sellers take advantage of correcting NY market

12
Jul '10
Most ginners have already committed a considerable part of their new crop production (in total about 40,000 tons) and are not in a hurry to sell some more. We should bear in mind that new crop seed cotton prices are not yet known, so ginners are not willing to take higher risk. The NY futures market is also correcting making it hard for potential buyers to offer attractive price levels to ginners. Therefore, the sales concluded during the week were not so many.

Some sellers took advantage of the correcting NY market and sold small quantities on call basis Dec 10. Obviously the basis was improved compared to previous contracts, reaching the 600 pts/lb on Dec 10.

Regarding the new crop, cotton fields are developing under ideal weather conditions and according to growers the warm days will overcome the small delay right after plantings. There are several optimistic views that the lint production will reach the 300k tons since farmers are targeting for high yields. However, as it is too early to make safe calculations, we maintain our estimate at 260-270,000 tons.

HECOT S.A.


Must ReadView All

Pic: Akosombo Textiles

Textiles | On 6th Jul 2020

Ghana gets private investment to revive Akosombo Textiles

The Ghanian government has secured private sector investment to...

Pic: Shutterstock

E-commerce | On 6th Jul 2020

China's e-com transactions exceed 34 trillion yuan in 2019

China led the world e-commerce space in 2019, employing around 51.26...

Pic: Beyond Leather Materials,

Textiles | On 6th Jul 2020

Danish company generates €1.1 M for plant-based leather

Beyond Leather Materials, a company that produces plant based,...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Sanjay Desai & Ashish Mulani, True Colors

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

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

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Rajat Jaipuria,

Rajat Jaipuria

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

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

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

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


July 2020

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


Advanced Search