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Bremen: Small turnover in cotton market
13
Jan '12
The New York Cotton Futures have closed a little higher every day at larger volatility since the beginning of the reported week, although the fundamental data of the cotton market has hardly changed. One reason might be the return of institutional investors to the futures market and the revaluation of the positions.

According to Bremen Cotton Market reports cotton has developed slightly worse during last year in comparison to other agricultural raw materials of the same asset category. A better development is partly expected.

Stronger demand from the Far East was registered without already observing a general turn of the consumption trend. The Chinese exports weakened at last on a slightly high level, yet the Chinese demand remained stable and the Chinese National Reserve as the currently largest purchaser on the cotton market will probably skim a large portion of this season's surpluses.

This development supported a stable price development on the local market. Companies returning from the holidays now faced higher prices than during December but at least a stabilized price development. The changed situation as well as the company holidays mainly limited the turnover to nearby long staple and extra-long staple deliveries.

Contracts in the medium staple range were closed for cotton from Brazil and Greece for near dates.

Egyptian Giza 86, Giza 88, Israel Pima and US Pima were ordered for prompt delivery in the LS/ELS-range; Giza 86 also for the 2nd quarter 2012.

Bremen Cotton Exchange

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