At the beginning of the reported week, the turnover in the German cotton market, developed as brisk as it had been the week before.
Contracts were primarily closed for standard origins as well as for European varieties whose availability, has been well anticipated.
Yet, due to the sudden considerable decrease in New York cotton futures, many textile companies reacted with insecurity regarding the causes and the duration of this price development.
According to reports, covering of short-positions has probably led to a rapid change in the price trend.
Thus at the very end, the processing industry rather hesitated closing contracts and focused on observing the market.
In the week, contracts in medium staple cotton were concluded for cotton from Spain for prompt delivery and also up to the first quarter of 2015, Greece for the fourth quarter of 2014, Central Asia for fourth quarter of 2014 and the first quarter of 2015, India for the first quarter of 2015 and West Africa for prompt and up to the second quarter of 2015.
In long and extra-long staple cotton, contracts were concluded in Giza 86 for the first quarter of 2015.
