The cotton business basically was sluggish during the reporting period. The prices for effective cotton remained on the level of the week before and swings at the New York cotton futures market were hardly discernible. The Cotlook A Index dropped by 30 points compared with the appointed day.
Contract negotiations between traders and mill's buyers were partly not successful because of low counteroffers. However, several new contracts could be closed. Even though most purchases focussed on near dates, contracts were also terminated until end of the year 2007 and even beyond.
In the Upland range contracts were registered in Central Asian sorts for prompt and further in the 2nd to 4th quarter 2007; West African types for prompt and for dates in the 2nd and 4th quarter 2007; high grade Chad cotton for the 3rd quarter 2007; Greek descriptions for prompt loading and further in the 2nd quarter 2007; Spanish cotton for the 2nd quarter 2007; Turkish for prompt and Indian for the 2nd and 3rd quarter 2007 and for the 1st quarter 2008.
In the ELS/LS range were traded: Egyptian GIZA 70 for prompt, GIZA 86 for prompt and further in the 2nd and 3rd quarter 2007; Sudan Barakat for the 3rd quarter 2007; Israel Pima for the 2nd and 3rd quarter 2007, as well as USA Pima for the 2nd quarter 2007.
Contract negotiations between traders and mill's buyers were partly not successful because of low counteroffers. However, several new contracts could be closed. Even though most purchases focussed on near dates, contracts were also terminated until end of the year 2007 and even beyond.
In the Upland range contracts were registered in Central Asian sorts for prompt and further in the 2nd to 4th quarter 2007; West African types for prompt and for dates in the 2nd and 4th quarter 2007; high grade Chad cotton for the 3rd quarter 2007; Greek descriptions for prompt loading and further in the 2nd quarter 2007; Spanish cotton for the 2nd quarter 2007; Turkish for prompt and Indian for the 2nd and 3rd quarter 2007 and for the 1st quarter 2008.
In the ELS/LS range were traded: Egyptian GIZA 70 for prompt, GIZA 86 for prompt and further in the 2nd and 3rd quarter 2007; Sudan Barakat for the 3rd quarter 2007; Israel Pima for the 2nd and 3rd quarter 2007, as well as USA Pima for the 2nd quarter 2007.
