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Related Keywords: cotton industry, cotton trading

Cotton futures eased on Thursday in heavy trading, receding from the 6-month highs, beleaguered from the rolling of closely-watched commodities index funds. Volumes were heavy throughout the session as traders moved positions from the March contract into May.

The most-active May cotton contract on ICE Futures U.S. edged down 0.27 cent, or 0.3 percent, to settle at 88.58 cents a lb.
The spot March contract fell more sharply, finishing down 0.77 cent, or 0.9 percent, at 87.60 cents a lb.

Related Keywords: Cotton market, cotton trading, Pakistan cotton industry

Pakistan cotton market trading witnessed dullness as prices remained high but ginners were reluctant to sell their depleted stocks at current rates in anticipation that prices would further rise due to lower-than-expected cotton crop for 2013-14 season.

The sudden dip in phutti arrivals during third picking shocked all the stakeholders who were expecting larger cotton crop over last season (2012-13).

Floor brokers said that as the phutti arrivals have slowed down, the unsold stocks with ginners are also depleting fast because no fresh stocks are being built up.

Related Keywords: cotton trading, Pakistan textile, spinning mills

Rise in cotton price resulted in a decline in its trading activities at cotton markets in Pakistan. The trade turnover of cotton fell to 2,500 bales (155 kilograms) after the price of the commodity surged above Rs7,300 per maund (37.324 kilograms) at the local markets, a dealer said on Thursday.

The spinning mill-owners opted to wait for a decline in the commodity price to make considerable buying. The situation resulted in low trade.