Cotton prices rose steadily for the first three week of August, but then dropped in the final days of the month, ending at a price about level with July.
According to data from the U.S. Department of Agriculture (USDA), the seven-market U.S. average cotton spot price rose by more than three cents per pound between July 31 and Aug. 21, but then declined by the same amount in the next five trading days, to $0.6089. This follows a $0.06 per pound drop in July.
The sharp increase in spot prices in the first few weeks of the month may have been a result of the USDA’s downward revision to its global cotton production forecast and a slight increase in historical mill-use levels.
Also during the month, the Chinese government implemented the biggest devaluation of its currency since 1994. The decline in the value of the yuan lowered the value of the CC index by $0.03 per pound.
The cotton production estimate for the 2015-2016 season dropped by 2.5 million bales to 109 million, while mill-use increased by 200 thousand bales to 114.6 million.
Also these resulted in a 2.9 million bale reduction to the forecast for ending stocks, to 105.2 million, the amount of cotton expected to be warehoused around the world remains high by historical standards.
The increase in mill-use estimates was largely due to an adjustment made to the forecasts of expected mill-use by Bangladesh, Taiwan and Turkey, partially offset by decreases in China, India, Pakistan and Vietnam.
Fulfilling the demands of fashion-forward consumers can be challenging in today’s retail market, but many brands are turning to influencers, including bloggers and designers, to heighten their clothing merchandise. From Target’s Victoria Beckham collaboration to Lidl’s Heidi Klum line, here’s who top brands are teaming up with to elevate their apparel offerings.Read more
eBay is gaining legs on other e-commerce players with its latest pricing initiative.Read more
Sears Canada might be the first shoe to drop for Sears Holdings, which still owns 12% of the business it spun off in 2012.Read more
It’s fun to find a steal at stores like T.J. Maxx and Marshalls. In fact, the off-price purveyor prides itself on that very treasure hunt. Now, however, some are calling into question the actual costs of getting the consumer such sweet deals.Read more
Whether it's wages, workload or working hours, some countries are worse than others when it comes to workers’ rights.Read more
Première Vision will broaden its offer of services tailored for the footwear industry at its next show in Paris. Plus, back-to-school sales are expected to increase by four percent.Read more