Low turnovers in cotton market

High prices, scant offers and negative reports from different origins dominated the week under report. Local mill demand seemed to base more on market analysis than real purchasing interest. The prevailing comments by merchants do not see cotton prices fundamentally lower in the near future.

The lack of available cotton was repeatedly named as the main reason. More interest was further on registered for fine / extra fine cottons, also at very high prices. However, the offers were strongly limited and larger turnovers were made in foreign markets.

The conclusion of contracts in medium staple cottons was reported as follows: West African types for prompt and for dates in the 1st and 2nd quarter 2011; Greek and Spanish descriptions for prompt resp. November 2010 and Central Asian cotton for prompt.

In the fine / extra fine range were traded: Israel Pima for prompt and US pima for dates in the 1st and in the 2nd quarter 2011.