Bustling Turnover
The development of the previous week persisted during the reported week. In general prices lessened stronger during the first half of the week; probably caused by the last USDA report forecasting a larger cotton stock by the end of the season. Yet prices offered on the local market became firm somewhat later, mainly because cotton prices in the origins have remained stable for nearby delivery. Reported were better turnovers, even though the processing industry's interest was limited to favourable offers for supply during the next four months.
Contracts on cotton of the medium staple range were reported from the following origins: Argentina, Brazil andWest Africa for delivery prompt as well as in the 2nd quarter 2012 and Central Asia for delivery prompt and in the 1st quarter 2012.
Egyptian Giza 86 and Giza 88 were sold in the LS/ELS-range for prompt as well as for the 2nd quarter 2012.