The cotton prices had continued their upward trend during the week under report and soared once again after the publication of the US All Cotton Acreage Report last Friday.
The December traded in New York by 2.60 US-Cent above the week before, and the Cotlook A Index (NE) quoted 2.15 Cents higher.
For this reason demand of the local spinning mills was strongly reduced. Smaller contracts were mainly closed for near dates, probably also in order to fill still existing supply gaps. Merchant reported about better sales to the Far East.
Turnovers in the local market were registered as follows: Central Asian sorts for prompt and further in the 3rd and 4th quarter 2007; West African types for prompt and for the 3rd and 4th quarter 2007; Turkish "organic" for the 3rd quarter 2007; Israel Acala for prompt; Sudan Acala for prompt, and Chad cotton from the new crop for shipment in the 1st and 2nd quarter 2008.
There were no turnovers reported in ELS/LS cotton.
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Bremen Cotton Exchange / Otto Stadtlander GmbH
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
