Cotton prices continue their firm tendency

Mill demand during the reporting week continued to concentrate on cotton available until the end of the year 2010. Interest existed in both, medium staple and fine/extra fine varieties. However the potential in the origins as well as in the domestic warehouses remained considerably reduced in quantity and in quality.
Additionally, the new crop is still in the fields and it is not yet precisely foreseeable when the first lots will be prepared for delivery. The cotton quotations at the New York futures market and the Cotlook A index (Far East) went up distinctly in the past week. In general, cotton prices continued their firm tendency.
In the Upland range the conclusion of contracts was registered in Central Asian medium to lower grades for September through December 2010 and for dates in the 1st quarter 2011; Syrian types for September through December 2010; West African styles for September through December 2010 and for March through July 2011; furthermore Greek descriptions for December 2010 through July 2011.
From among the fine/extra fine varieties were traded: Egyptian GIZA 86 and 88 for September through November 2010; Sudan Barakat for the same period of time, and Israel and US Pima for January through June 2011.