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PriceWatch Report Highlights 14 April 2014

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Others -> Cotton Price


US cotton futures changed little this week extending the prior weakness to multi-week lows on falling demand. The most-active July cotton contract on ICE Futures US inched up US cent 0.16 to settle at US cents 90.45 per pound after hitting a 2-1/2-week low. For the week, the near month contract dropped to US cents 89.02 per pound, its biggest weekly tumble since late October 2013.
Cotton Price

Global Indepth Cotton Analysis- You may view the complete researched data on Cotton Global Demand-Supply, price trends, industry structure, major investments in the YnFx World Cotton Trends in Demand-Supply 2010. Click here to read more.

Cotton Price News

Cotton Slumps Further, Sets Nine-Month Low Under Harvest Pressure [ 30 Oct, 2013]

Cotton futures eased to a nine-month low on Monday as building harvest pressure and concerns over excess inventories weighed. The most-active December cotton contract on ICE Futures US edged down 0.43 cent, or 0.5 percent, to settle at 78.65 cents a lb. Prices touched as low as 78.52 cents, the weakest level for the spot contract since January.

Fibre performed in line with broader commodities markets, with the Thomson Reuters/Core Commodity CRB index down on the day. Harvests have begun in key producers in the Northern Hemisphere, leaving fibre under seasonal pressure as the cotton industry awaits another season of excess inventories. "The mills see the harvests coming in, so they are waiting for lower prices. There's no urgency" to buy, said John Flanagan of Flanagan Trading Corp in North Carolina.

US government data due later on Monday was largely expected to show the crop in the world's top exporter has continued to improve, following delays and concerns over yields earlier in the season. No 2 producer India is expected produce a bumper crop this year. "It's becoming a pretty good season, with no real problems," Flanagan said. Meanwhile, US government export data released last week stoked concerns that high prices have dented demand.

This week's export data will combine all export sales activity for the weeks ending October 10, October 17 and October 24, according to the US Department of Agriculture. Export reports were delayed this month by a partial US government shutdown. Exchange stocks continued their climb, adding pressure. ICE inventories reached 114,769 bales on Friday, the highest since end-July. Another 30,628 bales were awaiting review by the USDA on Monday.

The stocks include both old crop and now newly classed bales, dealers said. Availability of last season's supplies has added pressure to prices and pushed the market into a contango. The December contract fell to a discount of 1.8 cents a lb below the March contract, from 1.51 cents a lb previously and a slight premium as recently as the start of the month. The front-month contract is poised to finish the month at a slight loss.

Source: Reuters

Pakistan - Renewed Selling Pressure On Cotton Market [ 29 Oct, 2013]

Renewed selling pressure pushed cotton prices lower when trading resumed on Tuesday.

Higher phutti (seed cotton) arrival, coupled with falling prices in world cotton markets, adversely affected sentiment.

Though buying interest was shown by spinners, they restricted their activity to short term demand on anticipation that cotton prices would move lower the world over on higher production and lesser demand.

Floor brokers said phutti arrival gained momentum, but restricted demand from spinners and exporters is keeping cotton prices under pressure.

According to reports, presently leading cotton producing countries are faced with higher supplies of cotton and prices continue to remain under pressure. Besides, cotton yarn market is also showing lethargy as takeoff for yarn from weaving sector is slow.

The world cotton markets mostly closed easy where New York cotton moved lower for all future contracts.

The Karachi Cotton Association (KCA) spot rates were unchanged and trading on ready counter was fairly brisk as needy mills kept purchasing their near future demand.

Source: Dawn



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