May '12
Prices for July, though, consolidated by mid-week again. The local market showed another picture. The lower prices for cotton obviously aroused the interest of the processors. The CIF Bremen Index, however, has remained firmer, since the prices quoted at origin for good qualities from the old crop and nearby delivery hardly followed the New York parameters.
The firm dollar as well as financing costs influenced the decision for closing contracts, too. As the price ideas of trade and industry still diverged, only limited minimum amounts were purchased for current need.
Cotton from West Africa, India as well as Israel Acala was traded for prompt delivery in the medium staple range. Moreover contracts were closed for West African and Central Asian descriptions for the 3rd quarter 2012.
The LS-/ELS-market registered contracts for Giza 88 and Israel Pima for near dates.
Bremen CIF Index
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