Cotton Outlook

摘要

Trade offering rates have again been lacking in clear direction. Price ideas at most origins remain firm. Futures have incurred losses during the period, having been influenced by movements in other markets. New York speculators' net long position widened during the week ended August 29... The long staple market remains strong on supply considerations... Local prices in China have continued to present a rather weak appearance. The volume procured recently for the state reserve proves to be well belowofficial intentions. Future government policy is the subject of market conjecture. The authorities are researching measures to support Xinjiang's cotton industry... The Cotton Association of India proposes the creation of a domestic price Index, as wellas two new futures contracts. In the United States, Hurricane Gustav has brought unwelcome rain to the cotton crop in the Delta and parts of Texas. The path of other Atlantic weather systems is under scrutiny. Belt-wide, plants are less advanced than atthe same point last season... Rain may hamper early picking in Mexico... Seed cotton is moving in limited volume in southern Turkey... A continued spell of dry weather has boosted the production outlook in Pakistan. Picking is expanding in the earliest-sown areas... The recovery of Indian crop prospects has continued. Higher plantings in the southern states have partially offset the shortfall elsewhere. Picking has been initiated in the Northern Zone... A figure of at least 8,000,000 tonnes for China's2007/ 08 lint outturn has been suggested by a senior industry figure. The area planted this season is believed to have been about maintained.. . Generally dry conditions have persisted across Argentina's cotton belt, as the period for sowing sunflower approaches an end. Observers appear increasingly confident of a recovery of cotton plantings this season. Import markets have for the most part presented a dull appearance... Mills in Thailand have added to their requirements for the second half of next year... Taiwan has taken up a few hundred tonnes of US at tender...A modest volume of Pakistan styles has moved off in Bangladesh... Turkish mills took up a moderate quantity of US at the start of the period. Some domestic new crop cotton has begun to move in the south. Spinners in Pakistan continue to complain of slow sales, and accumulating yarn stocks... Turkish spinners continue to report difficult trading conditions. The government is considering a package of measures to assist the sector.