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CIF Bremen Cotton Index drops little by little this week
03
Jul '14
The quotations of the December-futures continued to erode. Good growing conditions on sufficient area have improved the crop prospects in Texas.
 
Competing crops have experienced a similar development; thus, position adjustments due to technical reasons probably influenced the prices, too.
 
The quotations of the CIF Bremen index for near dates have only decreased little by little. Because of a persistently difficult yarn business, the spinning industries observed the further price development with a wait-and-see-attitude.
 
Just like previous weeks, they focussed on covering immediate need for the running production right before and immediately after the company holidays. Promptly available cotton was preferred; furthermore qualities which have been interesting with regard to price from the new crop.
 
Contracts were concluded for:
-Medium staple cotton: West Africa for prompt, Central Asia for prompt and the 3rd quarter 2014, East Africa for the 3rd quarter and Greece as well as Brazil for the 4th quarter 2014.
-Long and Extra-Long staple cotton: US Pima and Israel Pima for prompt.
 

Bremen Cotton Exchange

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