Cotton contracts not significantly grown (Germany)
The development on the New York Cotton Futures Market had only limited influence on the domestic market during the reported week. In comparison to last week the amount of enquiries for cotton for near dates has increased, yet the number of contracts has not significantly grown.
Once again, the spinning industry's behaviour has not indicated stronger demand as well as not given further impulses for rising prices. Cotton producers from the origin were obviously not willing to reduce prices for the limitedly available cotton. These conditions aggravated conclusions so that only few contracts were closed. Sales focused mainly on nearby deliveries.
IIn the medium staple range West African cotton was sold for near dates.
In the LS/ELS-range contracts were closed for Eyptian Giza 86 for near dates. Israel Acalpi was ordered for delivery from near dates up to the 4th quarter 2011.
Once again, the spinning industry's behaviour has not indicated stronger demand as well as not given further impulses for rising prices. Cotton producers from the origin were obviously not willing to reduce prices for the limitedly available cotton. These conditions aggravated conclusions so that only few contracts were closed. Sales focused mainly on nearby deliveries.
IIn the medium staple range West African cotton was sold for near dates.
In the LS/ELS-range contracts were closed for Eyptian Giza 86 for near dates. Israel Acalpi was ordered for delivery from near dates up to the 4th quarter 2011.
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