Nov '14
It adds that mainly technical reasons were likely responsible for the performance of NY cotton futures, since there were no news of change in market fundamentals.
“The quotations in euro remained relatively stable due to the strong dollar,” the report reveals.
As in the previous week, several inquiries from the textile industry targeted specific grades in the reporting week.
And in order to hedge current orders, price ranges and available cotton were still being searched.
Although spinners remained generally cautious, there were however, a moderate amount of transactions for deliveries in future months.
In medium staple cotton, contracts were concluded for; Central Asia for the fourth quarter of 2014 and Brazil for the fourth quarter of 2014 and up to the first quarter of 2015.
In the same variety, contracts were executed for India for the first quarter of 2015 and for Spain for the first and second quarter of 2015.
In case of long and extra-long staple cotton, contracts were signed for Giza 86 for prompt delivery, Spanish ELS for the fourth quarter of 2014 and US Pima for prompt and first quarter of 2015. (AR)
Fibre2fashion News Desk - India
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