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High volatility in cotton market, Bremen CIF

10
Feb '11
After climbing and following sharp decline of the quotes in New York last week, the quotes recovered with a not common jump up. The Cotlook A quotes for April to June exceeded the 2 US Dollar limit for a short time.

The Bremen CIF Index based on quotes for February to March kept the 2 US Dollar line in the reported week. The high volatility within the days and the performance of the quotes at the ICE in general had confused the market participants and hampered the business. Offers from the producing countries were continuously limited.

Prompt deliveries remained interesting to cover short-term needs. Inquiries of spinning mills were most of all concentrated on the coming crops of the northern hemisphere and on the search for possibilities to cover the transition to the new season.

Contracts were reported for medium staple as follows: Central Asian for deliveries prompt and 2nd quarter 2011. West African for delivery in the 2nd and 3rd quarter 2011 as well as for 1st quarter 2012. Brazil for 4th quarter 2011. USA MOT for 1st quarter 2012.

Negotiated were deliveries of Long and Extra Long Staple as follows: Israel Acalpi for 4th quarter 2011. Israel Pima for prompt and 2nd quarter 2011. Egyptian Giza 86 und 88 for prompt. US Pima for 2nd quarter 2011 and 1st quarter 2012.

Bremen Cotton Exchange


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