Fashion
ICE cotton hits 11-month high on weak dollar, drought fears
The most traded May 2026 contract settled at 73.26 cents per pound, up 1.59 cent or 2.22 per cent. The contract has broken the key 73-cent resistance level, showing strong buying interest. December 2026 contract settled at 76.87 cents per pound, with gains of 1.40 cent. Most active contracts across the board gained between 80 and 174 points.
ICE cotton surged to an 11-month high, breaking the 73-cent level, driven by a weaker US dollar and drought concerns in key growing regions.
Strong trading volumes and speculative interest reinforced bullish sentiment.
Despite bearish USDA data, weather risks and rising crude oil prices supported cotton as a preferred fibre in the near term.
Market movement defied earlier “oversold” expectations, showing strong reversal and aggressive buying activity.
Trading volume remained exceptionally high at 143,973 contracts during the session, ranking as the 5th highest volume ever recorded. Previous session volume was even higher at 156,255 contracts (3rd highest ever), confirming sustained heavy participation and strong speculative trade interest. In 2026 so far, trading volume has exceeded 120,000 contracts in 7 out of 12 sessions, highlighting consistently elevated market activity.
US dollar index declined to near a one-month low, making US cotton cheaper for overseas buyers and boosting export competitiveness.
Crude oil prices rose approximately 3 per cent due to concerns over continued restrictions in the Strait of Hormuz, increasing polyester production costs and indirectly supporting cotton demand as an alternative fibre.
Market analysts noted prices dipped overnight but rebounded due to weaker dollar and drought concerns, highlighting weather as a key driver.
USDA weekly export sales data showed net sales of 319,600 bales for the current marketing year for week ending April 2, down 14 per cent from previous week but up 25 per cent compared to the 4-week average. Export data initially pressured prices but overall market sentiment remained supported by supply concerns.
ICE certified deliverable stock of No. 2 cotton futures remained unchanged at 128,213 bales as of April 8, indicating no immediate tightness from stock movement.
USDA increased global cotton production forecast for 2025-26 by 900,000 bales while raising global consumption by 560,000 bales.
Analysts said that although demand is improving, supply is rising at a faster pace (bearish factor), but adverse US growing conditions are currently providing stronger support to prices. The market is currently reacting more to weather risks than to bearish fundamental data, indicating short-term sentiment dominance
In broader commodity markets, CBOT wheat, corn, and soybean futures rebounded from previous session lows and moved higher during the day. CBOT May soybean futures closed slightly higher, supported by gains in soybean meal and soybean oil along with cross-market strength.
Cotton market showed a strong bullish breakout above 73 cents backed by heavy volume, weak dollar, and weather concerns, with price action clearly overriding bearish USDA supply projections, indicating continued weather-driven strength in the near term.
This morning (Indian Standard Time), ICE cotton for May 2026 traded at 73.16 cents per pound (down 0.10 cent), cash cotton at 71.26 cents (up 1.59 cent), the July 2026 contract at 75.25 cents (down 0.07 cent), the October 2026 contract at 77.10 cents (up 0.15 cent), the December 2026 contract at 76.79 cents (down 0.08 cent) and the March 2027 contract at 77.54 cents (down 0.08 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
Kenneth Straka, Senior Product Development Manager at Deckers Outdoor Corporation, said that Deckers places strong emphasis on sustainability, noting that founder John Luke often reminded the team that the French word for sustainability is durability. This idea aligned with discussions at the Global Fashion Summit, where the theme centred on “Building Resilient Futures” in the sustainable and circular economy.
Durability has helped UGG become one of the most sought-after boot brands and a key sales driver for Deckers, alongside its sportswear brand Hoka. “One of the things we think about in terms of circularity is making products that last a long time and remain with consumers throughout their lives. We want products that consumers can wear for ** or ** years,” Straka said in an interview with Fibre*Fashion on the sidelines of the Global Fashion Summit in Copenhagen.
In the Tiruppur market, cotton yarn prices increased by ****;*–* per kg in this week despite sluggish local demand. Prices were quoted higher because of limited supply from spinning mills. A trader from the Tiruppur market told Fibre*Fashion, “Domestic demand remained limited, but spinning mills are not relying solely on the domestic market for cotton yarn sales. They are focusing more on exports, where demand and prices remain attractive. Mills have raised yarn prices following higher ICE cotton prices and the CCI’s increase in auction base prices, although ICE cotton has witnessed a sharp decline over the past two days.”
In Tiruppur, knitting cotton yarn prices were noted as: ** count combed cotton yarn at ****;***–*** (~$*.**–*.**) per kg (excluding GST), ** count combed cotton yarn at ****;***–*** (~$*.**–*.**) per kg, ** count combed cotton yarn at ****;***–*** (~$*.**–*.**) per kg, ** count carded cotton yarn at ****;***–*** (~$*.**–*.**) per kg, ** count carded cotton yarn at ****;***–*** (~$*.**–*.**) per kg, and ** count carded cotton yarn at ****;***–*** (~$*.**–*.**) per kg.
BGMEA president Mahmud Hasan Khan said they discussed export diversification within the garment sector, reopening of closed factories and many factories’ struggle for survival.
Representatives of two top Bangladesh garment trade bodies recently met PM Tarique Rahman and urged him to ensure uninterrupted power and energy supply, quick release of export receipts from banks, reopening of closed factories and easing of customs regulations.
BKMEA raised concerns about misuse of the bond facility and urged action against violators of bond licences.
104 factories have informed the BGMEA about their closure till now, Khan said. BGMEA will scrutinise these cases to identify the genuine reasons for the closures.
Following the scrutiny, the association will send recommendations for reopening these factories, as the government is working to open a Tk 200-billion fund to assist their revival.
BKMEA president Mohammad Hatem said some 400 factories closed in the last three years—nearly 300 of them due to non-cooperation from banks. He said banks release export receipts to exporters’ lien accounts, but delays in payment often force loans into default, leaving exporters unable to pay suppliers on time.
He also demanded uninterrupted supply of power and gas to industrial units as recent shortages of fuel oil have severely affected productivity, according to domestic media ooutlets.
Hatem raised concerns about misuse of the bond facility and urged action against violators of bond licences.
He also called for easing the rules of the National Board of Revenue, particularly customs procedures, to smoothen export and import processes and reduce lead times.
Fibre2Fashion News Desk (DS)
“Call Her Daddy” podcast host Alex Cooper announces pregnancy with 1st child
Shania Twain wants to sing at Harry Styles, Zoe Kravitz wedding
Weather & then war lead to tears in India’s onion basket
-
Entertainment5 days agoConan O’Brien hat tricks as Oscar host
-
Tech1 week agoCould Contact-Tracing Apps Help With the Hantavirus? Not Really
-
Tech1 week agoI Tried the Best Captioning Smart Glasses, and Only One Leads the Pack
-
Fashion4 days agoItaly’s Zegna Group’s Q1 growth boosted by strong organic performance
-
Sports1 week agoBobby Cox, legendary Atlanta Braves manager who led 1995 World Series champions, dead at 84
-
Entertainment1 week agoMartin Short: Facing tragedy with joy
-
Entertainment7 days agoTom Brady gets back at Kevin Hart during Netflix roast
-
Entertainment1 week agoMartha Stewart: How to make an omelet