Wt Cotton Discussion Threads

[rocket mn] 09/11/2010 21:19

I don't like scaling out, but parabolic price moves seldom end well.

[bobdouthwaite] 07/11/2010 11:32

I think this rally still has legs....



Cotton Futures Extend Rally on 'Inexhaustible Chinese Appetite'


especially,
"...Global production is forecast to lag behind demand for a fifth straight year, draining stockpiles, the USDA said on Oct. 8. China will have a production deficit of 18.5 million bales this year, according to the USDA. The agency will update its crop forecast on Nov. 9.

China's crop may be 2 million bales smaller than the USDA estimated in October, Flanagan said. China is the world's biggest grower, followed by India.

The latest USDA forecast was released before a hailstorm hit Texas, the largest U.S. growing state, on Oct. 21. The China Meteorological Center said on Oct. 25 that a cold front moving across the nation might hamper the cotton harvest and reduce fiber quality.

Tropical Cyclone 5B strengthened over the Bay of Bengal and was heading toward India's east coast. The storm was projected to reach hurricane strength and reach land on Nov. 7. It may bring up to 8 inches (20 centimeters) of rain and winds of 80 miles per hour, damaging crops in Andhra Pradesh, said MDA Information Systems Inc., a weather forecaster.

"It's going to be a big deal for both sugar and cotton," Donald Keeney, an MDA meteorologist, said today in a telephone interview from Rockville, Maryland. "Cotton has open bolls, so it's not going to be good at all."

[sllab101] 04/11/2010 21:21

I'm Sure you will get another chance wolterix :-)

[wolterix] 04/11/2010 20:34

yep, sold these way, way too early

:(

[sllab101] 02/11/2010 22:02

Cotton Extends Rally to Record; Chinese Demand Is `on Fire,' Plexus Says
By Leslie Patton - Nov 2, 2010 8:23 PM GMT
Tweet (2) LinkedIn Share Print Email
Cotton prices extended a rally to a record on mounting demand from China, the world's biggest user.

"The Chinese market is just on fire," said Peter Egli, the director of risk management in Chicago for Plexus Cotton Ltd., a U.K.-based merchant. "We have seen a lot of the mills back off, but China is still paying."

On ICE Futures U.S. in New York, cotton for December delivery jumped by the exchange limit of 5 cents, or 3.9 percent, to settle at $1.3426 a pound at 3:20 p.m. That marked the highest price in 140 years of trading. The commodity has soared 78 percent this year.

The China Cotton Association said the nation will boost management of the industry after prices surged on adverse weather and speculation. Major companies were urged to stabilize the market, the group said in a statement on its website, citing the National Development and Reform Commission.

Futures for March, May and July delivery also advanced by the exchange's maximum today in New York. The trading limit will rise to 6 cents tomorrow, ICE said.

Last week, a cold spell in China and hailstorms in Texas damaged crops. Before the bad weather, China's harvest was expected to be 18.5 million bales less than domestic use this season, U.S. Department of Agriculture data show.

An area of thunderstorms near the Indonesian island of Sumatra may develop into a tropical cyclone this weekend and damage cotton crops in India, weather forecaster MDA Information Systems Inc. said today.

'Panic'

"Worries over just how short China's crop is with ongoing weather issues has their mills in a near-constant panic," Sharon Johnson, a senior analyst at First Capitol Group LLC in Atlanta, said in a report yesterday.

Global demand will rise to 25 million metric tons in the season that ends July 31, up 1.6 percent from last year, the International Cotton Advisory Committee said yesterday.

The USDA estimated last month that world use will exceed supply by 4.09 million bales this year. The agency will update its crop forecast on Nov. 9. The U.S. is the biggest exporter.

Yesterday, cotton inventories monitored by ICE rose 1,260 bales, or 10 percent, to 13,546 bales. They have plunged from this year's high of 1.08 million on June 2.

A bale weighs 480 pounds, or 218 kilograms.

To contact the reporter on this story: Leslie Patton in Chicago at [e-mail].

To contact the editor responsible for this story: Steve Stroth at [e-mail]

[bobdouthwaite] 26/10/2010 08:19

Who will feed China? Supplies must be very tight!

DJ MARKET TALK: Cotton Gains Limit, Sets Post-Civil War High
10/25/10 14:34:45 EDT

1433 EDT [Dow Jones] - Cotton prices hit their maximum allowable amount for
the fourth time in the past six sessions Monday, setting a new post-Civil War
record on continued strong demand from China. Prices hit their limit soon after
trading opened and stayed there for most of the day, as traders worry the
Chinese crop is smaller than originally expected. Mill buying has remained
consistently high despite soaring prices, and there are no indications
purchases will slow in the near future. ICE December futures settled 5 cents,
or 4.2%, higher at $1.2471 a pound. (CAN)

Contact us at 212-416-2430 or [e-mail]

[sllab101] 25/10/2010 07:45

Cotton Futures Soar to Record on Supply Concern After Storms Hit U.S. Crop

[nabcom] 15/10/2010 13:57

Cotton hits record high after poor crops and heavy buying in China

[wolterix] 18/9/2010 22:53

think I sold a bit early, as I thought we were nearing the top

but mine were held in my ISA...

[kristini2] 17/9/2010 17:25

it is either subject to CGT or income tax depending upon whether it has distributor status -not a share , it's an ETF

[zutalors] 17/9/2010 16:16

Yep, it's a share.

[kristini2] 17/9/2010 14:08

is this subject to CGT or income tax, anyone?

[bobdouthwaite] 07/9/2010 14:39

It's quiet here, but cotton's getting scarcer...

Cotton Production, Quality May Decline in China, Boosting Imports, Prices
Bloomberg
"Investors are now piling into cotton, as new-crop supply is deemed tight while demand from textile mills remains robust." China will import 12.5 million ...
See all stories on this topic »


Indian export ban takes cotton to 15-year peak
Financial Times
Cotton demand has outpaced supply for the past five years on the back of strong demand from China and low production in the US, running down the ...
See all stories on this topic »

[bobdouthwaite] 13/8/2010 10:40

I topped up my LCTO too this morning (ISA with Selftrade)

[wolterix] 13/8/2010 09:57

OK, in for 2000

[wolterix] 12/8/2010 14:10

Is there a UK equivalent of this, that could be traded within an ISA?

edit:oops! - hmmm, why won't TDW let me buy this within my ISA...?