For a short time the New York Cotton Futures significantly increased during the reported week thanks to good sales to China as well as a short-term stabilization of the eurozone combined with a weaker US-dollar. Yet there were no noteworthy changes on the domestic market concerning basic conditions.
The reported week remained calm with limited turnovers. Although the spinning industries' situation has appeared to be mixed by all means, there did not seem to be a need for purchases exceeding the absolute necessary amount due to obviously sufficient industry stocks.
Upland-cotton was traded from the following origins: West Africa for near dates up to the 4th quarter 2011, Spain for the 4th quarter 2011 and USA EMOT as well as a Pakistan Option for the 1st quarter 2012.
Contracts for LS / ELS qualities were closed for Egyptian Giza 86 for prompt delivery and Spain for the delivery in the 4th quarter 2011.
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