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Cotton futures settled up on Wednesday, boosted by forecasts for harvest-hindering rains in Texas, the top-producing state in the United States, and further supported by a weaker US dollar.
"A lower dollar, sporadic mill buying and a little bit of wet weather coming into Texas gave the market a little boost," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.
The market awaited the release of the US Department of Agriculture's weekly export sales report on Thursda
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Textile Raw Material Price 2016-11-02
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
46.67
USD/Barrel
-0.41%
2016-11-02
Crude Oil Brent
803
USD/Barrel
-0.12%
2016-11-02
PX
48.14
USD/Ton
-0.33%
2016-11-02
PTA Buy
4750
RMB/Ton
-0.52%
2016-11-02
PTA Sell
605
USD/Ton
-0.82%
2016-11-02
MEG Buy
5750
RMB/Ton
0.35%
2016-11-02
MEG Sell
690
USD/Ton
0%
2016-11-02
CPL
-
Cotton futures fell on Tuesday to touch their lowest in a week on liquidation by speculators as good harvesting conditions prevailed in the United States. On Monday, the first month December contract on ICE Futures registered the biggest intraday percentage loss in seven weeks as index funds shifted long positions forward and as the US dollar firmed.
"Speculators have to get on the move at some point, they've got a very large long position ... and not a lot of buyers in there," said Jordan Le
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Textile Raw Material Price 2016-11-01
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
46.86
USD/Barrel
-3.78%
2016-11-01
Crude Oil Brent
804
USD/Barrel
0%
2016-11-01
PX
48.3
USD/Ton
-2.84%
2016-11-01
PTA Buy
4775
RMB/Ton
0.42%
2016-11-01
PTA Sell
610
USD/Ton
0%
2016-11-01
MEG Buy
5730
RMB/Ton
1.42%
2016-11-01
MEG Sell
690
USD/Ton
2.99%
2016-11-01
CPL Buy
-
Cotton futures fell nearly 2 cents on Monday, registering their biggest intraday percentage loss in seven weeks as index funds shifted long positions forward from the front month, further dragged down by a stronger US dollar.
"We're on the second day of the Rogers index fund roll, which normally brings selling pressure," said Louis Rose, independent cotton trader and consultant with Risk Analytics in Memphis, Tennessee.
"We didn't see much short covering today ... and this is no surprise,
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Textile Raw Material Price 2016-10-31
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
48.7
USD/Barrel
-2.05%
2016-10-31
Crude Oil Brent
49.71
USD/Barrel
-1.51%
2016-10-31
PX
804
USD/Ton
0.12%
2016-10-31
PTA Buy
4755
RMB/Ton
0.63%
2016-10-31
PTA Sell
610
USD/Ton
0%
2016-10-31
MEG Buy
5650
RMB/Ton
1.62%
2016-10-31
MEG Sell
670
USD/Ton
1.21%
2016-10-31
CPL Buy
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Textile Raw Material Price 2016-10-30
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
49.72
USD/Barrel
1.1%
2016-10-30
Crude Oil Brent
803
USD/Barrel
0%
2016-10-30
PX
50.47
USD/Ton
0.98%
2016-10-30
PTA Buy
4725
RMB/Ton
-0.53%
2016-10-30
PTA Sell
610
USD/Ton
0%
2016-10-30
MEG Buy
5560
RMB/Ton
0.72%
2016-10-30
MEG Sell
662
USD/Ton
0.3%
2016-10-30
CPL Buy
10
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Textile Raw Material Price 2016-10-27
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
49.18
USD/Barrel
-1.56%
2016-10-27
Crude Oil Brent
49.98
USD/Barrel
-1.59%
2016-10-27
PX
803
USD/Ton
-0.5%
2016-10-27
PTA Buy
4750
RMB/Ton
-0.63%
2016-10-27
PTA Sell
610
USD/Ton
0%
2016-10-27
MEG Buy
5520
RMB/Ton
-1.08%
2016-10-27
MEG Sell
660
USD/Ton
-1.05%
2016-10-27
CPL
-
Cotton futures rose one percent on Wednesday, snapping a six-session falling streak, boosted by speculative buying and an easing dollar even as crop harvest progressed unhindered in US producing regions. "It looks like someone just wanted to buy a lot of contracts and they did," said Gabriel Crivorot, an analyst at Societe Generale in New York.
A weaker US dollar also helped but it was not the main driver of prices, Crivorot said. The first-month December cotton contract on ICE Futures jumped
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Textile Raw Material Price 2016-10-26
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
49.96
USD/Barrel
-1.11%
2016-10-26
Crude Oil Brent
807
USD/Barrel
0.25%
2016-10-26
PX
50.79
USD/Ton
-1.3%
2016-10-26
PTA Buy
4780
RMB/Ton
0.74%
2016-10-26
PTA Sell
610
USD/Ton
0%
2016-10-26
MEG Buy
5580
RMB/Ton
1.45%
2016-10-26
MEG Sell
667
USD/Ton
1.06%
2016-10-26
CPL Buy