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Yarn News   >     17-12-2017 - Sunday

  • PRICES OSCILLATE SLIGHTLY IN BRAZIL DUE TO REDUCED SUPPLY OF QUALITY COTTON
  • The pace of cotton trades was weak in the Brazilian market at the beginning of the second fortnight of October and, thus, prices oscillated slightly then. Purchasers and sellers showed low interest in trading, for both prompt and long-term deliveries. Therefore, the few trades involved small volume batches. The low supply of quality cotton underpinned prices in the Brazilian market in that period.
  • Cotton growers were focused on the accomplishment of contracts and affirmed they would only make cotton available in the spot market after accomplishing these contracts. Thus, the few batches available referred to low quality cotton, not approved by purchasers. Low availability of cotton and international values oscillations, in turn, drove many sellers away from the market in that period.
  • Between September 30 and October 31, the CEPEA/ESALQ Index, with payment in 8 days, for cotton type 41-4, delivered in São Paulo, decreased slightly 0.68%, closing at 2.5073 BRL (0.7872 USD) per pound on October 31.
  • Trading companies, in turn, were not very active in the domestic market in the second fortnight of the month, attentive to the drops at the New York Stock Exchange (ICE Futures) and to Cotlook A oscillations.

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