Restrained Turnover

The movements on the New York Futures Market were moderate during the reported week. The reports on drought in Texas as the most important planting area in the USA as well as good crops particularly in Brazil and Australia identified the direction which was furthermore influenced by cancellations or replacements of contracts from the old to the new crop and the obviously uninteresting price level for near dates during the past weeks. Prices for disposable raw material were only marginally reduced on the domestic market. Traders continuously experienced shipment delays and limited offers from the origin. Enquiries from the spinning industries remained restrained; though deliveries from the new crop were still attractive. On the other hand there was no information on supply shortfalls. The spinning industries were having a hard time passing on raw material costs because of the yarn price development. The news on the international market about favourable offers from Indian yarn manufacturers should be mentioned in this context.

The following contracts were announced in the medium staple range: West Africa for the 2nd quarter 2011 and Greece for the 4th quarter 2011.

The turnover on the long and extra long staple market was slightly higher: Israel Acalpi from the 4th quarter 2011 up to the 1st quarter 2012, US SJV Acala rgd and US Pima for the 1st quarter 2012.