The price indices jumped up for about 4 cents compared to the previous week fueled by bigger trading volumes and active buying at the ICE which was supported by the last USDA report predicting lower productions.
Tight supplies of quality cotton for the coming months and a late US crop also contributed to higher quotations on the domestic market. The turnover of last week was not reached by far even though the end of the company holidays has been in sight.
The sharp rise and the uncertainty about stability of the current trend did not motivate spinning mills to take action, but to wait and to observe the price development as well as to look for attractive offers of available cotton. For the production necessary medium staple cotton was bought for prompt delivery only.
It was reported in detail:
Medium staple cotton: Cotton from Central Asia for prompt delivery and the 4th quarter, East Africa for the 4th quarter 2013.