Along with the falling cotton quotations in New York, the spinning mills increased their enquiries. On the appointed day the expiring trading month December 2007 quoted more than 3 Cents/lb below one week before, however, rather for technical reasons.
The Cotlook A index for Northern Europe dropped by 1.10 cent/lb in the same period of time. As far as offers from the countries of origin were available, replacement costs were clearly higher. The effected turnovers in the upland range were concentrated on shipping- / delivery dates in the running and in the first quarter 2008 and were by majority served from positions of the trade.
In the Upland range, turnovers were registered in Central Asian sorts for prompt, further in the 4th quarter 2007 and in the 1st quarter 2008; West African types for the same period of time and Greek descriptions from the new crop for loading in the 4th quarter 2007 and in the 1st quarter 2008.
From among the long- and extra long staple varieties were traded: Egyptian GIZA 88 for prompt and Sudan Barakat for dates in the 1st half year 2008.
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