Prices for nearby deliveries still firm

The development in New York continues to be inconsistent with daily quotations still fluctuating in a considerably range. Remarkably the prices tighten for months later this year. At the domestic market the prices remained firm for nearby deliveries. The prices quoted by merchants on the basis of further scarce stocks met price ideas of the processing industry, which considered the low demand for yarns and fabrics as well as the quotes for July at the future market, which were fallen since April. The market shows only little signs for a supposed need for cotton of good medium staple quality in the 3rd quarter. Business in Long and Extra Long staple cotton was not reported.

In the medium staple range sales of West African cotton for delivery prompt and for the 3rd and 4th quarter 2011 was reported Argentine cotton was contracted for delivery in the 3rd quarter 2011.