Holidays hit Bremen cotton market last week

Bremen CIF Index reports that due to the holidays in some German federal states cotton merchants registered only few enquiries on the domestic market during the past week. Near dates once again dominated the interest, but the demand could not always be satisfied, especially due to a lack of higher grades.

Numerous processors, though, continuously seem to exercise market caution, observe the currently weak price movement and wait for the quality development of the new crop.

The following contracts were closed:

In the medium staple range: West Africa for prompt and the 1st quarter 2013. Central Asia for the 4th quarter 2012 and the 1st quarter 2013. Brazil for the 4th quarter 2012.

Long- and extra-long staple cotton: Israel Pima, Israel Acalpi, Egyptian Giza 86 as well as US Pima for prompt and the 4th quarter 2012.