Uncertainty about future trend of cotton market continues
19 Feb '09
1 min read
The cotton quotations in New York for the trading month March had nearly dropped 6 cents per pound compared with the week before.
The Bremen CIF index and the Cotlook A index (FE) ranged in comparison about four cents lower. Both developments had no stimulating impact on the business situation in the domestic market.
The spinning mills purchased only the most necessary quantities for dates in the first half year 2009, because of price ideas by mills still below offering prices of the trade. The general uncertainty about the further trend of the market continued.
In the Upland range the following turnovers were registered: Greek, West African and Central Asian cottons, all for prompt and continuing dates in the 1st and 2nd quarter 2009.
No sales were reported from among the LS/ELS Varieties.
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