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Low sales figures in cotton market

26
Apr '08
The market situation developed very reserved during the past week. Enquiries from spinners´ side were rather selective and well-directed to most favourable offers. Due to lacking perspectives for the further course of prices, spinners acted very cautious and purchased just the most necessary.

The cotton quotations showed a price range of 580 points with falling tendency during the reporting period. The development at the futures market in New York has caused considerable disturbance of the cotton business during the past months.

American Cotton Shippers Association (ACSA) and International Cotton Advisory Committee (ICAC) have urged the authorities to react and to reinstall the original function of the futures market for the cotton industry. Therefore, a hearing of the Commodity Futures Trading commission (CFTC) will be held in Washington on 22 April 2008.

In the Upland range turnovers were registered in Central Asian sorts for prompt and further in the 2nd quarter 2008, as well as West African types for the 3rd quarter 2008.

ELS/LS cottons were traded as follows: USA Pima and Sudan Barakat for the 2nd quarter 2008.

Bremen Cotton Exchange


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