12042016Sun
Last update: Sun, 04 Dec 2016 01pm

Cotton and Textiles: World

Archive: 

Cotton futures edged higher on Friday, after dipping to a two-week low earlier in the session, in thin-volume trading amid a softer dollar. The natural fiber market also marked its second successive weekly decline having slipped about 0.3 percent for the week. "I think we were simply down on follow-through selling from yesterday," said Louis Rose, an independent cotton trader and consultant with Risk Analytics in Memphis, Tennessee.
Cotton futures fell for the seventh time in nine sessions on Thursday, by about 1 percent, on speculator selling as US weekly export sales declined. The sell-off followed the market's failure to repeat recent highs, said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie, Georgia. Export data from the US Department of Agriculture showed net upland sales of 202,300 running bales of cotton for last week, down 21 percent from the previous week.
The following were the fluctuations observed during the day:

Cotton futures edged higher on Wednesday, supported by soaring oil prices, and marked their third straight monthly gain, having risen above 3 percent in November. "It's probably macro factors, especially the surge in oil prices ... cotton is more correlated with oil because of transportation," said Louis Rose, an independent cotton trader and consultant with Risk Analytics in Memphis, Tennessee.
The following were the fluctuations observed during the day:

Cotton futures fell one percent on Tuesday, recording the biggest one-day percentage drop in over two weeks, hurt by weaker demand for US cotton. "Polyester prices are running at about half that of cotton and Indian cotton is becoming more available," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.
The following were the fluctuations observed during the day: