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Cotton market without significant movement

20
Oct '11

Still the December futures in New York show no trend in one direction or another. Neither the last USDA crop estimation with a predicted higher production volume for 2011/12 nor a slightly weaker dollar brought about a significant movement in the available market quotations. As in the past few weeks the processing industry was in a “wait and see” attitude and in case of cover needs supplies for nearby delivery were in the focus of attention.

In the middle staple range Argentina and West Africa were reported for prompt delivery, West Africa also for the 1st quarter of 2012 and Turkish cotton for the 4th quarter of 2011 and the 1st quarter of 2012.

U.S. Pima was traded for prompt delivery.

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