Unabated rise in cotton prices (Germany)
After the cotton quotations in New York experienced a small slump at the beginning of the reporting period, the uptrend continued with a wide daily range. The 400 points mark was easily achieved in the meantime and surpassed up to 100 points in the synthetic trade. The weakness of the US-dollar led to turnovers in foreign markets. Over here the demand calmed down. The prices for near delivery from the European countries of origin climbed parallel to the international markets, whereas the potential was still limited and the already existing commitments needed to be satisfied at first. The expected lower prices due to new crop arrivals pressing to the market have not been visible yet.
Sales figures in the medium staple range were reported in Central Asian sorts for the 4th quarter 2010 and for the 1st quarter 2011, as well as Spanish cotton for dates in the 1st quarter 2011.
From among the fine /extra fine varieties were traded: Egyptian GIZA 88 and Israel Pima for prompt, US Pima for the 2nd quarter 2011 and California Acala (long) for the 2nd quarter 2011.
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