Bremen CIF Index reports that the while the New York Cotton Futures registered a downward trend during the reported week, price ideas of the cotton traders remained firm. Accordingly price ideas of traders and spinning industries diverged increasingly.
Consequently only few contracts were closed during last week. The number of enquiries was rather insignificant as well and predominantly applied to near dates and hardly to the first quarter 2013 and the new crop.
The following contracts were closed:
In the medium staple range: Central Asian as well as West African cotton was sold for near dates.
Long- and extra-long staple cotton: US Pima was ordered for prompt delivery as well as the 1st quarter 2013. Moreover contracts were closed for Egyptian Giza 86 and Giza 88 for prompt delivery.
