Imports of knitted and crocheted apparel under HS code ** reached around NZ$***.* million (~$***.* million) in the first eleven months of ****, up about * per cent from the same period last year. Woven apparel under HS code ** rose by a similar *.* per cent to approximately NZ$***.* million (~$***.* million). Compared with the January–October trend, growth moderated slightly, reflecting softer buying in November as retailers balanced summer demand with tighter stock management and ongoing efforts to avoid overstocking.

November **** highlighted this moderation. Monthly imports of HS ** and ** combined declined *.* per cent YoY to about NZ$***.* million (~$**.* million). Knitted apparel imports fell more sharply, down **.* per cent to NZ$**.* million, while woven apparel was broadly flat at NZ$** million. The weaker November performance points to continued caution in forward ordering, as retailers prioritised inventory clearance and promotional activity ahead of the year-end period.

The most active March 2026 cotton futures settled at 64.35 cents per pound, down 0.14 cent. The contract had touched 64.81 cents on Friday, its highest level since December 3, 2025. Other contracts ended mixed, with gains of up to 7 points and losses of as much as 15 points.

ICE cotton futures ended mixed to lower amid lighter year-end trading, though prices stayed near multi-week highs supported by earlier short covering.
March 2026 settled lower despite indirect support from higher crude oil prices.
Chinese cotton futures slipped after eight gains.
Analysts said recent strength reflected short covering rather than fresh bullish fundamentals.

Crude oil prices rose by more than $1, increasing polyester costs and providing indirect support to cotton as a competing fibre. However, this was insufficient to lift ICE cotton prices.

Total trading volume reached 37,122 contracts, compared with 35,630 contracts cleared in the previous session. Market participation remained light as traders reduced activity ahead of the year-end.

Data from the CFTC showed that speculators increased net short positions by 1,822 contracts to 60,573 contracts in the week ending December 16. ICE data showed deliverable No.2 cotton inventories at 11,600 bales as of December 26, unchanged from the prior trading day.

China’s ZCE cotton futures posted their first lower close in eight sessions, ending a short-term winning streak. According to market analysts, the recent strength in cotton prices appears to have been driven mainly by short covering rather than any specific bullish fundamental trigger.

The broader soft commodities complex traded higher, with cocoa, raw sugar, and coffee recording modest gains. In the grain complex, Chicago wheat prices declined, weighed down by ample global supplies.

China’s National Bureau of Statistics reported that the country’s 2025 cotton planting area stood at 44.687 million mu (up 5.0 per cent year on year), yield rose to 148.6 kg per mu (up 2.6 per cent), and production increased to 6.641 million tons (up 7.7 per cent).

This morning (Indian Standard Time), ICE cotton for March 2026 was trading at 64.50 cents per pound (up 0.15 cent), cash cotton at 62.10 cents (down 0.14 cent), the May 2026 contract at 65.81 cents (up 0.18 cent), the July 2026 contract at 67.03 cents (up 0.19 cent), the October 2026 contract at 67.47 cents (down 0.09 cent), and the December 2026 contract at 68.35 cents (up 0.15 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)