July registered a considerable increase in New York since the First Notice Day is in sight. The quotations thereby reflected active position adjustments on the one hand and were a sign of limited available stocks on the other hand.
December experienced a weaker development after reports on pleasant rainfalls in main U.S. planting areas. The CIF Bremen as well as Cotlook A Index developed significantly more stable on a high level.
The domestic market recorded only few inquiries. Since the first stage of processing obviously hasn’t got pressure to cover at present and due to diverging price ideas, price negotiations proved to be difficult. Extra-long staple cotton was just sold for prompt delivery while medium staple cotton orders mostly applied to dates right around the company holidays.
Contracts were concluded for:
-Medium Staple Cotton: Greece cotton was ordered for prompt delivery; Argentinean and West African descriptions as well as Turkish organic cotton for the 3rd quarter 2014. Cotton from East Africa and Brazil were sold for the 4th quarter 2014.
-Long and Extra-Long Staple Cotton: Sudan Barakat, Israel Pima and Giza 88 were purchased for prompt delivery.
Source:
http://www.fibre2fashion.com/news/Association-news/bremen-cotton-exchange/newsdetails.aspx?news_id=164799
