|Subject||CIF Bremen Cotton Index stays comparatively firm this week|
The company holidays became even more noticeable in the amount of sales during this week. Occasional inquiries of the processing industry were shaped by the expectation that prices for nearby deliveries will follow the development of the New York cotton futures and thus decrease.
The futures-market was dominated by forecasts on further rising production in the U.S.A. due to favourable weather conditions; the currently good export data was of less importance. Quotations at origin followed the price-trend given by the futures just restrainedly and remained rather firm.
Therefore the CIF Bremen Index stayed comparatively firm as well and the gap to the futures in New York continuously on a high level. Due to the large export availability and attractiveness of Brazilian cotton for the European market, the variety Brazil Strictmiddling 1.3/32” will be added to the basis for the determination of the CIF Bremen Index on August 1st.
Contracts were concluded for: Medium staple cotton: Israel Acala for prompt delivery, West Africa for the 1st and 3rd quarter 2014, Spain and Central Asia for the 4th quarter 2014. Long and Extra-Long staple cotton: No sales reported.
Source : fibre2fashion.com
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