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Cotton purchases low on expectations of drop in prices
25
Sep '08
The prices for effective cotton did not follow the downtrend at the New York futures exchange to the full extent. Towards the end of the week the quotations recovered again, further restricting the inquiries by the spinning mills. Many mill buyers consider the current yarn prices as non sufficient compared to the presently asked prices for the raw material.

Furthermore, the required qualities for the near date are only at disposal in reduced volume. Higher descriptions from the new crop are not yet ready for delivery and were hardly purchased for later dates in expectation of eventually lower prices.

Reported turnovers were limited to Upland qualities: Central Asian sorts for prompt, further in the 4th quarter 008 and in the 1st quarter 009; Greek descriptions for the 4th quarter 008 and West African types for dates in the 4th quarter 008 and in the 1st quarter 009.

Bremen Cotton Exchange

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