Fashion
ICE cotton futures ease as harvest progress matches 5-year average
ICE’s most active December 2025 contract settled at 66.22 cents per pound (0.453 kg), down 0.07 cent. The contract hit an intraday low of 66.11 cents, its weakest level since September 8. Other contracts closed between 62 points lower and 4 points higher.
ICE cotton futures slipped after touching a two-week low, with December 2025 settling at 66.22 cents per pound.
Improved US harvest progress, now at 12 per cent, and weak grain markets pressured sentiment, partly offset by a softer US dollar.
Analysts said demand remains steady, but traders stay cautious ahead of peak harvest.
Brazil’s September exports fell 13.61 per cent year-on-year.
A weaker US dollar, which ended a three-day winning streak against the euro and Swiss franc, lent some support to cotton. However, falling crude oil prices exerted downward pressure, as lower polyester production costs weighed on sentiment.
Total trading volume stood at 32,669 contracts, compared with 27,722 on Friday. Average daily volume for the week was 32,928 contracts. CFTC data showed speculators cut net short positions by 9,139 contracts, leaving 65,507 contracts short as of September 16. ICE-certified deliverable cotton stocks were unchanged at 15,474 bales as of September 19.
US harvest progress reached 12 per cent, up from 9 per cent last week and matching the five-year average, though slightly behind 13 per cent last year. USDA’s weekly crop progress report pegged cotton quality at 47 per cent, down from 52 per cent last week but above 37 per cent a year earlier.
Analysts said demand expectations remain decent, but traders are cautious ahead of the main harvest.
Brazil’s Secex reported exports of 104,616.47 tons in the first three weeks of September, averaging 6,974.43 tons per day, down 13.61 per cent from last year’s 8,073.20 tons per day.
US stock markets saw all three major indices hit record highs for the third consecutive day, supported by an interest rate cut and expectations of further easing in 2025. Wheat futures hit a new contract low on uncertainty over Chinese demand, while CBOT soybean futures fell to a six-week low amid a weak US export outlook.
Currently, ICE cotton for December 2025 is trading at 66.16 cents per pound (down 0.06 cent), cash cotton at 64.22 cents (down 0.07 cent), the October 2025 contract at 64.32 cents (down 0.62 cent), the March 2026 contract at 68.08 cents (down 0.10 cent), the May 2026 contract at 69.49 cents (down 0.08 cent) and the July 2026 contract at 70.59 cents (down 0.01 cent). A few contracts remained at their previous closing levels, with no trading recorded today.
Fibre2Fashion News Desk (KUL)
Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee (FOMC) to stop cutting.
Goldman Sachs Research recently forecast that the US Federal Reserve will cut interest rates again in December.
Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee to stop cutting.
It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent.
Though Fed chair Jerome Powell was more hawkish than expected during the central bank’s recent press conference, Goldman Sachs Research still expects policymakers to lower their target rate again this year.
It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent, it said in an insights article on its website.
The FOMC cut its target rate in October for the second time this year, lowering the fed funds rate by 25 basis points to 3.75-4 per cent. The Fed also said it would stop running off its $6.6-trillion balance sheet at the start of December. The principal payments of mortgage backed securities will only be reinvested into Treasury bills.
While most official economic data releases have been suspended by the government shutdown, Powell noted that the available official and alternative indicators suggest that inflation (net of tariff effects) is now close to the 2-per cent target and that the labour market has continued to cool gradually.
The FOMC’s summary of economic projections for September implied that most participants saw a December cut as the baseline, according to Goldman Sachs Research. The Fed’s past packages of risk management cuts (proactive rate cuts to guard against potential risks to the economy) also suggest that a third and final cut is the default.
Labor market data are “unlikely to send a convincingly reassuring message” by the time of the FOMC meeting in December, David Mericle, chief US economist, wrote in the team’s report.
Deferred resignations of government employees instigated by the Department of Government Efficiency are likely to generate a negative payrolls report in October and “weigh a bit on November,” Mericle added.
Fibre2Fashion News Desk (DS)
Published
November 10, 2025
The Very Group is under new ownership. The former Shop Direct, which owns Very and the legacy Littlewoods e-tail businesses, is now controlled by its major lender, global investment firm Carlyle. Another lender, Abu Dhabi-based media group IMI, is continuing as “a key stakeholder”.
The company said it’s “a positive outcome for The Very Group, providing it with a strengthened capital base and enhanced financial flexibility to support investment in its long-term growth plans”.
It also “underscores Carlyle and IMI’s confidence in The Very Group, its management team, leading brand position, strategy and long-term growth potential, having supported the business since 2021”.
Carlyle and IMI will now “support the company’s management team to continue to deliver against its strategic priorities, including driving innovation and leveraging technology and data to improve its customer offering”.
It means the former owners, the Barclay family, will no longer have any involvement in the business after controlling it for over 20 years. It’s been in control during the period in which Very Group morphed from a traditional catalogue-based retailer to one of the UK’s biggest online business.
Very Group, which is chaired by Nadhim Zahawi, the former Conservative Chancellor, has annual revenues of over £2 billion and it serves 4.4 million customers.
The Barclay family had tried to sell the business before and while no information was given about the value of the latest transaction, one report speculated on a valuation of around £2.5 billion, which is less than the Barclays had previously hoped for.
The family has lost control of a number of its businesses in recent periods after struggling to pay off major loans. Carlyle and IMI first became involved with Very earlier this decade as they lent major sums to the group.
But Very itself is believed to be in good financial shape. Last month it reported results for the year to June and while they included a pre-tax loss of £505.4 million, that was caused by a write-down of an inter-company loan made to the Barclay family’s holding company as lenders prepared to take over the business.
Other figures were more positive with an increase in adjusted earnings before interest, taxes, depreciation and amortisation of 15.9% to £307.1 million and an adjusted EBITDA margin that rose to 14.7% from 12.5%. That was the highest earnings margin it has ever achieved. While revenue dipped slightly, its focus on more profitable sales was what boosted the margin.
On Monday, Very CEO Robbie Feather said the new ownership deal “marks an important milestone for The Very Group as we move into an exciting new phase of growth. We are delighted to continue to partner with Carlyle and IMI. Their continued backing provides us with a stronger foundation to execute on our strategy, increase investment in technology and the customer experience, and to build on the momentum across the business”.
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Standout pieces include a black embellished velvet kimono-style jacket with matching trousers, a black open-back sleeveless satin top with velvet tie at the neck and sheer balloon trousers with velvet side panels, a range of decadent draped dresses and tops, and a sharp double-breasted black tuxedo with a black waterfall bandeau top.
H&M’s Holiday 2025 collection celebrates opulence with a high-fashion edge, featuring velvet, satin, faux fur and leather across dramatic silhouettes, statement knits and sharp tailoring.
With rich hues and bold textures, the range for women, men and kids embodies elevated festive glamour.
Launches in select stores and online from November 6, 2025.
“There’s a real party mood this holiday season, but in a more lavish, sensual way. Everything feels elevated – luxe fabrics like velvet, satin, faux fur and leather, elaborate draping, slim suits and hyper-textured knits. The look is powerful and exquisite at the same time. Each piece from the collection is worthy of a moment,” says Eliana Masgalos Duarte, Womenswear Design Director at H&M.
The colour palette is rich and restrained with black, white, grey, browns, burgundy and mossy greens. Textures are key, from luxe velvet, lurex and sequins in new techniques to faux fur, shearling, leather, and brushed knits, loop knits and tassels.
For accessories, faux fur reigns supreme, from bags and shoes to hats, while jewellery is big and bold.
For the Holiday 2025 menswear, there’s a similar confidence and opulence, though more relaxed in silhouette. Sartorial ease comes in the form of hairy textures, subtle sheen and velvet touch denim. Key pieces include a statement parka, a washed shearling jacket, cosy heritage knits and boxy pinstripe suits with drapey shirts. The blend of timeless craftsmanship and modern versatility makes the collection smart and stylish.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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