"Wait and See" attitude persisted

Compared with the previous week, all quotations tended lower. The daily changes remained within a narrow range. As before, the demand for raw cotton behaved. There were covered mainly limited quantities for nearby delivery. Quotes in the old crop are quite resistant. Inquiries seemed therefore to be relocated to the expected new crops, in the hope that prices will be adequate. The generally weak yarn market, not yet fully delivered previously concluded contracts and lack of new orders as well as a total of uncertain economic growth in Europe may had contributed to the industry to persist in a more cautious attitude.

In the middle staple range for prompt delivery was traded West African cotton, for delivery in the 4th quarter Spanish, Turkish, West African, Central Asian cotton and for the 1st quarter of 2012 again Spanish and Turkish cotton.

LS / ELS qualities in Giza 86 and U.S. Pimawere reported for prompt delivery.