After remaining stable for over a week, cotton prices moved down ina narrow range today at Karachi Cotton Association (KCA).
The prices leapt back to Rs2510 per maund from earlier level of Rs2525.
In ready cotton transactions, a big deal of 4000 bales took place at Upper Sindh for Rs2550 per maund.
According to Cotlook Indices, A Index was at 59.85 and B Index stood at 57.50.
New York Cotton Futures Market Closing Delivery has predicted some positive changes for the month of March - 06 and May - 06.
Opening price for March 2006 will be $55.80, high and low levels will be $57.30 and $55.65; previous rate will be $55.87 and close at $57.23. This shows an increase of $1.36.
In May 2006, price will open with $57.20, high and low levels will be $58.40 and $57.00; previous rate will be $57.29 and close at $58.40. This reflects a positive change of $1.11.
More info on KCA
Karachi Cotton Association
marketing@alchempro.com
