Demand for cotton was sluggish during the past week. The quotations in New York made potential buyers hope for falling prices. However, the market for effective cotton did not follow the trend.
Offers from the origins remained firm, as far as available at all. As larger turnovers were not convertible on the present level, the conclusion of new contracts was mostly limited to urgent supply of needs for near dates and to special varieties.
In the Upland range were traded: Central Asian sorts for prompt and further in 4th quarter 2007; West African types for prompt and for the 1st quarter 2008; Mozambique cotton for the 1st quarter 2008 and Zimbabwe for the 3rd and 4th quarter 2008, as well as for the 1st and 2nd quarter 2009.
In the long- and extra long staple range, contracts were concluded in Egyptian GIZA 86 for prompt and for the 1st quarter 2008; GIZA 70 and 88 for prompt; Israel Pima for the 1st and 2nd quarter 2008 and Sudan Barakat for the 1st and 2nd quarter 2008.
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