Focus on 2016
Within the course of the week, the New York cotton futures fluctuated only marginally in the frame of previous weeks. The recently published reports on the world cotton situation have not disclosed anything surprising and have hardly influenced the quotations. The following adjustment of positions in the direction of the trading month March did not seem to affect the quotes significantly either. Nevertheless, the prices rose slightly at the end of the reported week since the weather in some important US-areas aroused worries concerning the impact on yield and quality.
The CIF Bremen index followed the lateral movement of the futures by trend; this development was supported by the limited availability of machine picked good qualities as well as the producersΆ lack of willingness to reduce quotations. European manufacturers had more difficulties finding acceptable prices for placing new orders due to the strong US-dollar. The possible development of the Euro might have encouraged some purchasers to order established origins on the long term up to the middle of 2016. Declining quotes for some extra-long staple varieties facilitated the closing of contracts in this market segment.
The CIF Bremen index currently does not quote Greek cotton because the usually quoted varieties are hardly available during the main harvest season due to climatic reasons.
Contracts were concluded for the following quarters:
• Medium staple cotton:
Brazil IV/2015 and I/2016
Greece IV/2015 until II/2016
Spain IV/2015 until II/2016
West Africa IV/2015 until II/2016
• Long and extra-long staple cotton:
Egypt Giza 86 IV/2015 and I/2016
Israel Acalpi I/2016
Israel Pima IV/2015 until II/2016
Spain ELS IV/2015 until II/2016
US Pima IV/2015 until I/2016
