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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.
Oil jumped more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as so
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Textile Raw Material Price 2016-12-01
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
49.44
USD/Barrel
9.31%
2016-12-01
Crude Oil Brent
801
USD/Barrel
-0.12%
2016-12-01
PX
50.47
USD/Ton
8.82%
2016-12-01
PTA Buy
4900
RMB/Ton
-0.91%
2016-12-01
PTA Sell
610
USD/Ton
-0.33%
2016-12-01
MEG Buy
6280
RMB/Ton
-0.48%
2016-12-01
MEG Sell
735
USD/Ton
0.41%
2016-12-01
CP
-
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 US Department of Agriculture's weekly crop progress report released on Monday showed that 77 percent of cotton crops were harvested in the United States by the week
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Textile Raw Material Price 2016-11-30
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
45.23
USD/Barrel
-1.8%
2016-11-30
Crude Oil Brent
46.38
USD/Barrel
-1.82%
2016-11-30
PX
802
USD/Ton
0%
2016-11-30
PTA Buy
4945
RMB/Ton
1.12%
2016-11-30
PTA Sell
612
USD/Ton
0%
2016-11-30
MEG Buy
6310
RMB/Ton
-0.16%
2016-11-30
MEG Sell
732
USD/Ton
0.27%
2016-11-30
CPL Buy
-
Textile Raw Material Price 2016-11-29
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
46.06
USD/Barrel
-4%
2016-11-29
Crude Oil Brent
802
USD/Barrel
-0.62%
2016-11-29
PX
47.24
USD/Ton
-3.59%
2016-11-29
PTA Buy
4890
RMB/Ton
-0.2%
2016-11-29
PTA Sell
612
USD/Ton
0%
2016-11-29
MEG Buy
6320
RMB/Ton
-0.32%
2016-11-29
MEG Sell
730
USD/Ton
0.27%
2016-11-29
CPL Buy
-
Cotton futures slipped to their lowest in over a week on Friday in lacklustre trading during an abbreviated session following the Thanksgiving holiday in the United States. The March cotton contract on ICE Futures US fell about 1.5 percent this week, marking the biggest decline since the week ended November 4. The cotton market closed early at 1 pm ET (1800 GMT) on Friday.
"I think there's not much buying at the moment as compared to last week when mills were trying to fix their cotton in Dec
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Textile Raw Material Price 2016-11-28
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
46.06
USD/Barrel
-4%
2016-11-28
Crude Oil Brent
47.24
USD/Barrel
-3.59%
2016-11-28
PX
802
USD/Ton
-0.62%
2016-11-28
PTA Buy
4890
RMB/Ton
-0.2%
2016-11-28
PTA Sell
612
USD/Ton
0%
2016-11-28
MEG Buy
6320
RMB/Ton
-0.32%
2016-11-28
MEG Sell
730
USD/Ton
0.27%
2016-11-28
CPL Buy
-
Textile Raw Material Price 2016-11-27
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
47.98
USD/Barrel
-0.1%
2016-11-27
Crude Oil Brent
49
USD/Barrel
-0.24%
2016-11-27
PX
807
USD/Ton
0.37%
2016-11-27
PTA Buy
4900
RMB/Ton
0.93%
2016-11-27
PTA Sell
612
USD/Ton
0.66%
2016-11-27
MEG Buy
6340
RMB/Ton
-1.71%
2016-11-27
MEG Sell
728
USD/Ton
-2.67%
2016-11-27
CPL Bu
-
Textile Raw Material Price 2016-11-24
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
48.03
USD/Barrel
1.14%
2016-11-24
Crude Oil Brent
49.12
USD/Barrel
0.45%
2016-11-24
PX
804
USD/Ton
0.75%
2016-11-24
PTA Buy
4855
RMB/Ton
1.57%
2016-11-24
PTA Sell
608
USD/Ton
0.5%
2016-11-24
MEG Buy
6450
RMB/Ton
0.16%
2016-11-24
MEG Sell
748
USD/Ton
1.08%
2016-11-24
CPL Buy
-
Cotton futures remained nearly flat for the second straight session on Tuesday, ahead of the first notice day for the December contract and amid a steady dollar. The trade is buying the December contract and selling the March contract before the first notice day on Wednesday, said Jobe Moss, a broker with MCM Inc in Lubbock, Texas.
"Once you get this day over with, we are going to find out what cotton's really worth. We'll probably see the March contract having a hard time holding these level