While, New York cotton futures for the November trading month tended to be firm, the CIF Bremen Index remained almost unchanged in the current week.
According to reports, various reasons were said to contribute to the strong December NY cotton futures compared to lower March quotations.
All over, the demand for nearby deliveries of medium staple cotton obviously weighed on offering rates, as well as the development of other agricultural commodities.
Spinning mills were watching the price development but generally continued their cautious purchasing behaviour.
However, the trade received in part more inquiries and for some buyers the current prices seemed to be at a feasible level to order deliveries for their nearby needs and secure stocks.
In medium staple cotton, contracts were concluded for; cotton from West Africa for prompt delivery and up to second quarter of 2015 and from Spain for the fourth quarter of 2014.
In long and extra-long staple cotton; contracts were signed for US Pima for prompt and Israel Pima for prompt and up to the fourth quarter of 2014. (AR)
