Firm Prices

Following a short-term drop the New York Cotton Futures, the Cotlook A Index as well as the Bremen CIF-Index remained almost on the same level as in the previous week. Despite pressure from current crops, prices in the USA stayed stable because of further purchases by China. Due to still sufficient cotton stocks or not yet fulfilled contracts the merchants hardly closed any long-term contracts on the domestic market as becomes obvious studying below listed turnovers.

Since the business developed well in 2010, the German apparel trade had ordered the same amount for 2011, also due to suspected supply shortfalls in China; given that the sales figures have not yet reached the previous year's level, the stockpile has applied pressure and a trend to short-term orders has prevailed in this sector as well. The whole textile chain was affected leading to only damped cotton demand in combination with firm raw cotton prices and unrivalled cheap yarn import offers.

The following contracts were closed in the medium staple range: West Africandescriptions for prompt, the 1st, 2nd and 3rd quarter 2012, Argentineancotton for prompt and the 1st quarter 2012 and Greek cotton for prompt and the 1st and 2nd quarter 2012.

Giza 86, 88and Israel Pima were ordered for prompt and the 1st quarter 2012 in the LS/ELS-range.