Cotton Inc. Monthly Economic Letter Apr-2019
Posted : April 26, 2019
Cotton Market Fundamentals & Price Outlook
RECENT PRICE MOVEMENT
Benchmark prices either increased or were stable over the past month.
- Prices for the May NY futures contract increased, climbing from levels near 75 cents/lb in mid-March to those near 79 cents/lb recently. The July contract, which now represents more open interest, also rose and has maintained values slightly higher than those for the May contract.
- The A Index climbed from values near 82 cents/lb near the middle of last month to those near 88 cents/lb most recently.
- Chinese cotton prices represented by the CC Index (3128B) were comparatively stable in both international and domestic terms, holding to values near 105 cents/lb and 15,600 RMB/ton.
- Indian spot prices (Shankar-6 quality) increased in both international (from 77 to 85 cents/lb) and domestic terms (from 42,500 to 46,200 INR/candy).
- Pakistani spot prices were steady at values close to 75 cents/lb or 8,700 PKR/maund.
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