16/04/2014
New York Cotton Future
Contract Settle price of closing Change
May’14 89.92 -0.99
July’14 91.29 -0.99
Oct’14 81.66 -0.73
Exchange Rate
Sight 30Days 60Days 90Days 120Days 180Days
USD 95.84 96.67 95.34 95.00 94.73 93.92
Euro 132.38 132.03 131.45 130.86 130.42 129.07
Crude Oil:
103.75
Local Cotton:
Most of the leading mills and spinners were on the sidelines due to rising uncertainties, caused by decline in dollar’s value versus the rupee on the cotton market on Tuesday. The official spot rate unchanged at Rs. 6,500. Prices of seed cotton in Sindh and Punjab per 40 kg were unchanged at Rs. 2,800-3,100. In the ready session, around 2,500 bales of cotton changed hands at Rs. 6,100-6,500.
According to the market sources , cotton traders looked confused over the present situation. The world over economic situation is not good, this is major reason behind the fall and the other big factor behind the weak demand by consumers is high cost of production.
