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Cotton prices move up slightly in November
06
Dec '11
After moving up at the beginning of the month, due to the low supply of high-quality cotton, quotes started to decrease in late November in Brazil. The market was very sluggish and most companies were refrained. They still had stocks of cotton at the end of the month. Moreover, players were preparing for the end of the year. Despite refrained purchasers, some sellers were operating in the market in late November and were flexible regarding values.

In the accumulated of the month, cotton quotes upped slightly. The CEPEA/ESALQ Index for cotton type 41-4 (delivered in São Paulo city, payment in 8 days) increased 0.86% in the accumulated of the month (between Oct. 31 and Nov. 30), and closed at 1.6906 real or 0.9345 dollar per pound on Nov. 30.

According to agents surveyed by Cepea, sharp price drops this year, low liquidity and high ending stocks might discourage planting activities of cotton in Brazil for the next season. On the other hand, drops of corn prices (a competing crop in terms of planted area for the second crop) may favor planting activities of cotton.

Center for Advanced Studies on Applied Economics - Cepea is a research center of the University of São Paulo located at ESALQ in Piracicaba, State of São Paulo. It is focused on agribusiness issues considering a diversity of related subjects: market analysis and price discovery, international trade, macroeconomics, management strategies, environmental and social aspects, entrepreneurship and family farming.

Center for Advanced Studies on Applied Economics - Cepea

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