The U.S. Department of Agriculture (USDA) has made its first cotton forecast for 2013-2014: Global cotton production will continue to exceed consumption, but production will decrease and consumption will rise. For the fourth season in a row, the world will produce more cotton than it uses, but production will drop 3% to 117.8 million bales, its lowest in three seasons. 70% of the world's … [Read more...]
Synthetic Fiber Prices Slip-Slide through April
May 5, 2013 by
The global synthetic fiber price index, which tracks the weighted average price for acrylic, nylon, polyester and polypropylene filament yarns and staple fibers, accelerated its recent trend and fell 4.9% compared to a year ago, its eighteenth straight month of decline. Prices fell in Asia, Western Europe and the USA. In Asia, prices fell by an average of 4.4% compared to the same month last … [Read more...]
U.S. Cotton Prices Fall 4.8% in April
May 3, 2013 by
After rising 4.6% in March, U.S. spot cotton prices did an about face in April, and fell by 4.8%, or about four cents per pound. The 7-market average U.S. spot price for upland cotton increased to 79 cents. Prices finished April 4% below year-ago levels. The past month has seen increased supply from rising global cotton stocks combined with softening demand due to style trend shifts toward … [Read more...]
Under Armour Drops Low Cost Fleece Sources In Favor of Costlier But Prompt, Reliable Delivery
April 29, 2013 by
Sportswear giant Under Armour was hit with delivery problems in 2012 and consequently has dropped its low cost suppliers in favor of sources which can deliver promptly and reliably despite increased costs. Although Under Armour's fleece will cost more, gross margin for the firm was up slightly in the first quarter of 2013 to 45.9 percent from the previous year's 45.6 percent. But increased … [Read more...]
Price Soars for India’s Cotton Yarn; Spinners Suffer As Orders Decline
April 28, 2013 by
Recent upturns in the price of cotton yarns from India could squelch exports from that country and take a bite out of its GDP. Fears of the economic damage caused by higher cotton yarn prices swept through the offices of yarn spinners, apparel exporters, and the Indian government, as they all looked for a solution to the problem. "We are losing our competitive edge in the fabric market due … [Read more...]
Cotton Falls As Speculators Exit Market
April 24, 2013 by
Cotton futures prices fell to a two-month low Tuesday, with spot prices down more than 12% from their high reached in March. Investors are liquidating long positions before the spot contract expires, and taking profits after a recent uptick pushed prices to a one-year high last month. The July contract was most active, closing down 1.05 cents to 85.10 cents per pound. In late session trading … [Read more...]
Peru’s Cotton Farmers Need Modernization, Not Subsidies
April 17, 2013 by
A fragile economy, plummeting exchange rates, and growing costs of labor have kept Peru from becoming major players in the textile and clothing export game, according to a statement from the Asociación de Exportadores (ADEX). The association’s president, Varilias Juan Velasquez, said that cotton exports are essential to the sector’s progress. He called the effect of government attempts to … [Read more...]
Synthetic Fibers Trump the Runway
April 17, 2013 by
Synthetics are back. After years of escalating cotton use, with a focus on natural materials and classic cuts, designers are jumping back to versatile, economical, manmade fabric. It's the new frontier of fashion, according to the Wall Street Journal, and scientific fabrics are letting designers do things that they've never done before. Forget cashmere and silk. Polyester, neoprene, nylon, … [Read more...]
Indian Leader Calls for Yarn Price Controls
April 16, 2013 by
Ramagopalan, the leader of the Indian religious and cultural organization Hindu Munnani, has reached out to the Indian central government to encourage them to create a high-level committee charged with fixing the price of yarn. The committee would be tasked with implementing protectionist measures to protect the textile clusters in Tirupur. According to Ramagoplan, recent price moves have made … [Read more...]
Arab Credit Crisis Squeezing Egypt Manufacturers
April 15, 2013 by
Egypt's balance of payments crisis is putting the squeeze on credit and fuel supplies, as depleted foreign reserves have prompted 11 rating cuts since the 2011 revolution which ousted dictator Hosni Mubarak. The revolution saw the installation of a provisional council made up of generals who have allowed the security situation to deteriorate and have mismanaged the macro economy. In the near … [Read more...]
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