Cotton outlook

摘要

Upland offering rates have again lacked clear direction, in face of a selective mill demand. Indian cottons continue to offer strong competition to other growths. Futures rose sharply at the start of the period, but have since failed to provide a lead. New York speculators last week sharply reduced their net short position. The New York Board of Trade is to vote later this month on a merger... The weakness of the US dollar has inflated price ideas at some 'outside' origins... Local values in China have remained steady. The United States harvest is in its final stages. The weather across the belt has been unhelpful, except in the Far West... Picking in Mexico has progressed at a steady pace... Seed cotton arrivals in India's Northern Zone have regained momentum, following a wet spell. Nationally, the volume delivered by early December represented nearly 23 percent of prospective output... The pace of seed cotton arrivals has also recovered in Pakistan... Output in Tajikistan has fallen short of lastseason, though long staple production has recovered... The Kazakh harvest is over... Planting in Australia is virtually complete, on the lowest area for some 20 years... The official forecast of the Brazilian crop indicates a new record. Planting is under way in the largest producing state. Conditions are favourable... Sowing in Argentina should be complete by the middle of December... The Paraguayan crop has made a good start... Most of Tanzania's cotton areas received ample rainfall during November.Turkey reports a fairly active import demand from ring spinners... During the week ended November 30, the net increase in US export sales of upland cotton for shipment this season was 136,000 running bales. The volume of cotton held in the government loan has continued to climb... Sporadic import demand in China has been attributed to the imminent expiry of quota deadlines. Local spinners have remained cautious buyers of the domestic new crop... The Cotton Corporation of India has concluded a moderate export business... Active mill purchasing of the domestic crop has again been noted in Pakistan. A sizeable volume of Indian cotton has also been purchased... Brazilian export shipments are proceeding rather slowly... Raw cotton imports into the Philippines have fallen sharply this year... Giza 86 again featured prominently in Egyptian export registrations. Cotton yarn values have presented a steadier appearance than of late... Pakistan reports a continued improvement in offtake for cotton yarn... Turkey's textile and apparel exports have shown an improvement in 2006... A French mill is to close.