Greece and US: Egypt and the Far East are asking for lower cotton prices

Published 2023년 10월 12일

Tridge summary

Despite losing some ground in recent sessions, cotton remains between 87-88 cents per pound in the New York market. The strong dollar and rising oil prices have impacted the market, with polyester becoming more expensive. However, analysts note that without significant demand in the physical market, the bullish market may not be sustainable. In the Greek market, the dollar remains strong, and while stock prices have not reached 90 cents, they are maintained at high levels. Turkey's absence has led to an increase in cotton exports to Egypt and the Far East for the first months of the season.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

new York In recent sessions it has lost some ground however it remains between 87-88 cents per pound. The dollar remains strong, while any problems with the US crop have already been discounted by the stock market and polyester, which competes with cotton in yarn, is getting more expensive as oil rises. The majority of analysts emphasize that it is a bullish market without serious demand in the physical market it cannot exist. Greek market The dollar remains strong and the stock market, although it did not reach 90 cents once again, is maintained at high levels. Several analysts a few months ago saw stock prices lower affected by a lack of demand. The premium on ...

Source: GRAgronews