Increased Enquiries

In contrast to the previous week, the New York Cotton Futures have had a quite continuous upward tendency. Market participants of the financial sector seem to have been more active; possibly due to the expectation that the gap between large production and small consumption which had been forecasted for this season could possibly narrow earlier than assumed. On the supply side this attitude was nurtured by consolidating rumours about smaller crops in India and China, expected reductions in cotton planting regions of the Northern Hemisphere as well as nebulosity concerning Texas farmer aims. On the demand side there were signs for an economic revival in the USA and the general impression that Far East markets were busier. The Chinese National Reserve has constantly bought US-cotton constituting their contribution to support the prices. Searching for an adequate offer increased price enquiries of the spinning industries were registered on the local market, too. Nevertheless the turnover has basically not changed.

In the medium staple range contracts were closed for cotton from Central Asia for delivery prompt up to the 2nd quarter 2012, West Africa for prompt and the 1st quarter 2012, Brazilfor prompt and India for the 1st quarter 2012.

US California Acala and Israel Pima were ordered for prompt delivery in the LS/ELS-range.