The CIF Bremen as well as the Cotlook A index decreased further little by little during the reported week. It has been assumed that the even more considerable weakness of the New York futures was provoked by adjustments of fund positions.
According to reports expected rain in Texas, a rising number of certified stocks and concerns regarding weaker demand might have affected the quotations temporarily as well.
Prices quoted in Euro have only marginally changed. Thus the domestic textile industry hardly benefitted from the current international trend.
Despite stable prices the past week registered once again long and extra- long staple purchases for prompt delivery up to the availability of the new crop, next to common origins of the medium staple range for near dates.
Contracts were concluded for:
-Medium Staple Cotton: West Africa and Central Asia for delivery in the 2nd and 3rd quarter 2014, Greece for the 3rd quarter 2014.
-Long and Extra-Long Staple Cotton: Egyptian Giza 86 for prompt up to the 3rd quarter 2014 and US-Pima for prompt and the 4th quarter 2014.
