Bremen cotton quotes remained on a relatively stable level, without any identifiable direction awaiting the next USDA-crop-estimates.
The current USDA-report did not show any important changes outside the U.S. According to the report, U.S. cotton stocks were considerably reduced at the beginning of the season.
On the other hand the report forecast an increase in cotton production in the current season, as well as growing stocks, despite rising exports.
Following the release of this report, the fall in NY cotton futures was moderate compared to previous movements.
The rapid fall of NY cotton futures slackened mainly due to position adjustments during the reported week.
Available quotations in the German domestic market were supported by comparably firm offers and many textile companies remained observant.
The holiday season still influenced the number of inquiries, so the turnover was limited.
Nevertheless some contracts were closed for prompt delivery from stock and others for delivery far into the next year from the European crop.
In this week, contracts in medium staple cotton were concluded from West Africa for prompt delivery, while contracts from Spain and Greece were concluded for the first and third quarter of 2015.
In long and extra-long staple cotton, contract for Giza 86 was signed for prompt delivery.
