Daily Market Reports
Namoi Cotton from time to time, provides growers with a market report which contains details on cotton futures, the Australian dollar, cotton market news and prospective market pricing.
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- P&D exchange rate for October 0.7854
- Namoi Capital Stock 0.420
ICE Cotton Futures
Estimated Vol: 16,143 | A Index: 77.70 (-1.00)
|Today's Spot||7886||Up 63|
The AUD has opened the new trading week just under US 79c, consolidating upon the significant gains achieved onFriday following the release of yet another weak US inflation report, this time for September. After opening Friday’s session at .7819, the AUD/USD ground higher over the course of Asian and European trade before jumping to amore that 2 week high following the release of the US inflation data for September. CPI - that which excluded movements in energy and food prices - rose by 0.1%, missing expectations for a larger increase of 0.2%.
As Ray Attrill, Head of FX Strategy at the NAB explains, thatcontinued a long run of underwhelming US inflation prints, casting doubt over the need for further interest rateincreases from the US Federal Reserve. “It’s now 6 from 7 in terms of core US CPI undershooting expectations,” said Attrill in his morning note. “So core CPI rose by just 0.7% inthe past 6 months, or 1.4% annualised.” Attrill says that despite the weak inflation report, market pricing for a Dec rate hike from the US Fed only fell marginally, something that he put down to remarks from Fed chair Janet Yellen during the session.The AUD/USD briefly hit .7897, leaving it at the highest level since September 26. A strong rebound in iron ore prices, Australia’s largest goods export by dollar value, may have also underpinned the Aussie’s gains.
|Macquarie/Lachlan||Kylie Edwards||0429 092 902|
|Ross Brown||0429 903 047|
|Namoi||Ross Brown||0429 903 047|
|Sandy Young||0429 920 980|
|Gwydir||David Lindsay||0428 657 294|
|Ross Brown||0429 903 047|
|MacIntyre||Owen Webb||0488 080 254|
|Mungindi / West Qld||Owen Webb||0488 080 254|
|Darling Downs / CQ||Jessica Strauch||0427 790 056|
|GS & Mkt Manager||David Lindsay||02 6790 3066|
Indicative Prices excluding GST
|ACash 14 Day||$489||$476|
|USc/lb (14 day)||$489||$476|
FOB basis offerings may not reflect the cash equivalent.
31-3-36 / 3.5-4.9 Mic.
227Kg Bales, FOB Ginyard.
AUD and DEC 2017 Futures
Dec 2017 Options
DISCLAIMER: While the material (derived from sources believed to be reliable) contained in this report has been compiled in a diligent and accurate manner and is given in good faith, neither Namoi Cotton Limited or Namoi Cotton Commodities Pty Ltd, nor any individual involved in the preparation of thisreport, accepts any liability in the event of error, omission or any consequences arising from its use. This material has been prepared for general circulation and does not have regard to the particular circumstances or needs of any specific person.