Fashion
ICE cotton steady on strong US weekly export sales report
ICE March 2026 cotton futures settled at 63.74 cents per pound, down just 0.04 cent. Other contracts, including December 2025 and the March, May and July 2026 positions, also recorded losses. The December 2025 contract closed at 61.68 cents, down 62 points, after touching an intraday low of 61.24 cents. Price movements in other contracts varied between 5 points higher and 13 points lower.
ICE cotton futures remained largely stable, supported by a strong US weekly export sales report released after a shutdown-related delay.
March 2026 futures closed slightly lower at 63.74 cents, while December 2025 guided the curve with reduced trading volumes.
Net sales of 207,200 bales confirmed healthy demand.
Analysts expect prices to hold and possibly move toward 67 cents.
Market activity slowed, with volume dropping to 35,679 contracts, the lowest in four weeks, compared with 49,131 contracts in the previous session. The market is also approaching the first notice period for December, and this contract continues to influence the overall forward curve, according to traders.
ICE reported that deliverable No. 2 certified stocks were unchanged at 20,344 bales as of November 19.
The US weekly export sales report for the week ending October 2 (released November 21) confirmed strong demand. Net sales totalled 207,200 bales, comprising 199,000 bales of Upland cotton and 8,200 bales of Pima cotton. Shipments were reported at 165,000 bales, including 157,700 bales of Upland and 7,300 bales of Pima. Season-to-date (2025–26) commitments reached 4,537,100 bales, with 1,257,900 bales shipped so far.
Market analysts noted that this was the first weekly export sales report released in several weeks and the figures confirmed healthy demand. They added that cotton futures are likely to hold steady at current levels and could move toward the 67-cent range if strong demand persists.
The USDA had suspended the report during the 43-day US government shutdown, adding to market uncertainty in recent weeks.
Earlier in November, the USDA raised its cotton export estimate by 200,000 bales, increasing the total to 12.2 million bales in its WASDE update.
Other commodity markets were mixed, with CBOT soybean futures closing lower amid concerns over global demand.
Overall, government cotton updates continue to provide clarity but have not yet reversed the broader downward trend. Traders noted that bulls will need a clear and sustained demand boost—policy-driven or market-led—to trigger a meaningful price rebound.
This morning (Indian Standard Time), ICE cotton for December 2025 was trading at 61.94 cents per pound (up 0.26 cent), cash cotton at 61.74 cents (down 0.04 cent), March 2026 at 63.68 cents (down 0.06 cent), May 2026 at 64.93 cents (down 0.07 cent), July 2026 at 66.05 cents (down 0.06 cent), and October 2026 at 67.15 cents (up 0.04 cent). Some contracts remained unchanged, with no trades recorded so far today.
Fibre2Fashion News Desk (KUL)
Total apparel shipments fell by 2.66 per cent year on year to $425.44 million in January 2026, compared with $437.07 million in the corresponding month of 2025. The performance underscored uneven global demand conditions that continue to influence sourcing patterns and order flows for Sri Lankan manufacturers.
Sri Lanka’s apparel exports declined 2.66 per cent YoY to $425.44 million in January 2026 amid weak global demand.
Shipments to the US and EU softened, while the UK remained stable with slight growth.
Other markets saw sharper contraction.
JAFF highlighted DCTS benefits and tariff changes while suggesting diversification and efficiency to sustain competitiveness.
Exports to the United States, the country’s largest market, decreased by 2.73 per cent to $165.11 million, while shipments to the European Union excluding the United Kingdom, declined by 1.93 per cent to $126.99 million. In contrast, exports to the UK remained broadly stable, rising marginally by 0.23 per cent to $61.71 million. Apparel shipments to other markets dropped more sharply by 6.07 per cent to $71.63 million.
JAAF noted that the UK’s steady performance offers a constructive signal for the sector, particularly as the revised Developing Countries Trading Scheme (DCTS), effective January 1, 2026, is expected to enhance sourcing flexibility and strengthen Sri Lanka’s competitive position in the British market.
The industry body also highlighted the introduction of a uniform 10 per cent temporary tariff in the US market as a relatively supportive development, reducing the impact of previously higher country-specific rates and providing greater short-term pricing predictability for exporters.
Commenting on the January outcome, JAAF said the moderate decline reflects ongoing volatility in global demand. The association emphasised that the industry remains committed to reinforcing resilience through market diversification, product innovation and operational efficiency, while collaborating with stakeholders to sustain Sri Lanka’s standing as a reliable apparel sourcing destination.
Fibre2Fashion News Desk (KUL)
Profitability remained robust despite a more challenging trading backdrop. Group EBIT stood at €913.4 million, broadly stable year on year (YoY), translating into a 29.2 per cent margin versus 29.5 per cent in FY24. Net profit reached €626.7 million compared with €639.6 million a year earlier, reflecting higher net financial expenses, while maintaining a 20 per cent margin.
Moncler has reported revenues of €3.13 billion (~$3.69 billion) in FY25, up 3 per cent at constant exchange rates, with net profit of €626.7 million (~$739.5 million).
Asia led regional growth, while DTC channels strengthened across brands.
Q4 revenues rose 7 per cent, driven by robust Moncler and Stone Island performance, as the group prepares for continued investment and leadership transition.
Regionally, the group recorded strong momentum in Asia, where revenues rose 7 per cent at constant exchange rates to €1.42 billion, supported by demand in China and Korea and a recovery in tourist flows. The Americas increased 5 per cent to €391.1 million, whereas Europe, Middle East and Africa (EMEA) declined 3 per cent amid subdued tourism-related traffic, Moncler said in a press release.
Channel performance highlighted the continued shift towards direct engagement. Moncler’s direct-to-consumer (DTC) revenues rose 4 per cent to €2.36 billion, accounting for nearly 87 per cent of brand sales, while wholesale declined 4 per cent as the group continued to enhance distribution quality. Stone Island’s DTC channel expanded 11 per cent to €226.4 million, whereas wholesale decreased 4 per cent.
The group’s financial position strengthened further, with net cash reaching €1.46 billion at year-end after dividend payments of €353.2 million. The board proposed a dividend of €1.4 per share and approved the consolidated sustainability statement.
Remo Ruffini, chairman and CEO of Moncler, said: “Moncler and its board of directors wish to express their most sincere thanks to Gabriele Galateri di Genola for his dedication and the highly valuable contribution he has made throughout his more than ten-year term of office. His significant experience, the vision developed over many years in senior leadership positions at leading industrial and financial organisations, as well as his constant commitment to good governance, have represented a key point of reference for our work. With gratitude, we extend our best wishes to Gabriele Galateri di Genola for the future.”
In the fourth quarter (Q4), the group delivered accelerated momentum, with revenues rising 7 per cent at constant exchange rates to €1.29 billion (~$1.52 billion). Moncler brand revenues reached €1.17 billion, up 6 per cent, while Stone Island posted €123.1 million, surging 16 per cent with double-digit growth across all regions.
Moncler’s DTC channel advanced 7 per cent despite a demanding comparable base in the quarter, supported by Asia and the Americas, while wholesale returned to growth, rising 2 per cent. Stone Island recorded broad-based acceleration, with DTC revenues increasing 16 per cent and wholesale climbing 17 per cent, partly reflecting delivery timing shifts from the previous quarter.
Looking ahead, the group emphasised continued investment in brand development and organisational strengthening, including the appointment of Leo Rongone as group chief executive officer from April 2026, as it seeks to sustain long-term growth and value creation.
Fibre2Fashion News Desk (SG)
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