Cotton: Cotton cheaper across market

04 Jul, 2011 – Global

On the ICE, cotton for front month July fell to US$1.6141 per pound while December delivery declined to US$1.1781 from US$1.2192 a pound a week ago. The ICE has implemented a change to its rules, allowing it to intervene to adjust prices in order to reduce volatility. The new rules at the New York exchange, which come into force from 1 July, will affect trading in cotton no 2.

Cotlook ‘A’ index marked the fourth consecutive weekly fall. In China, the Cotton Index (328) closed down 494 Yuan a ton while KCA spot rate declined by a significant Pak.Rs.600 per maund. Indian cotton was cheaper by `500-4,700 per candy in most varieties.

USA and Europe Prices Updated in the YnFx PriceWatch Report

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