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Long staple cotton shows firm tendency in Bremen market
11
Apr '13
In the last days, the New York futures registered a considerable decrease to a level that had been seen at the beginning of March lastly. The reasons for the strong futures movements were not always comprehensible.

Some can be named: Technical adjustments to positions of speculators and traders, daily changing news concerning the global economic situation, e.g. the Euro crisis, as well as developments on major cotton markets.

The well-known fundamental data, though, has not changed significantly. However, declining stocks of upper grade medium staple varieties could be observed. Quotations in the long staple range showed a firm tendency.

Enquiries on the domestic market mainly served for information. The turnover was marginal, also due to the Easter holidays.

The spinning industry’s demand was obviously satisfied as much as necessary until the middle of the year so that there did not seem to be a need for immediate purchase at prices that recorded fluctuations every day and were at a high level in general.

The following contracts were closed:

Medium staple cotton: Cotton from West Africa was ordered for prompt delivery.

Long- and extra-long staple cotton: USA SJV Acala rgd and Israel Pima were purchased for the 2nd quarter 2013.

Bremen Cotton Market

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