09292016Thu
Last update: Thu, 29 Sep 2016 06am

Cotton and Textiles: World

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Cotton futures fell for the second straight session to their lowest in more than a week on end-of-quarter selling by speculators. "The market is witnessing disappointment today," said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie, Georgia. "It tried to rally and got above 70 cents and saw that perhaps the adverse weather in Texas was not as bad as people thought and I think that caused the speculators to retreat." he noted.
The following were the fluctuations observed during the day:

Cotton futures fell to their lowest in a week on Tuesday on speculative selling amid weakness across commodities and a stronger dollar. "The market has been in sideways consolidation and it is finally starting to break out down now," said Jobe Moss, a broker with MCM Inc in Lubbock, Texas. "You got a market that really has no factual reason to be moving higher right now," Moss said.
The following were the fluctuations observed during the day:

Cotton futures were little changed on Monday, as other commodities markets gained amid a weaker dollar. Prices initially rose due to reports of hail damage in West Texas, but gave back most of the gains after information that crop damage was isolated, according to Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.
The following were the fluctuations observed during the day:

China, the world's top textile market, will grow more cotton than originally expected after favourable weather over the summer, according to an industry survey carried out as farmers prepare to harvest the 2016/17 crop. Total output will be 4.91 million tonnes in the season which ends in September 2017, down 5.6 percent from the current year, but up 1.6 percent from the previous estimate released in June, cncotton.com, a government-backed trade publication, said in a report.