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Cotton prices unchanged

COTTON prices remain unchanged most of the session in a narrow 60-point trading range before ending down five points at 83.06.

Futures volume was moderate, with estimated volume of 14,684 contracts as compared with Friday's cleared volume of 18,441 contracts.

Out today is the US Crop Progress and Condition report showing the crop is now 21% harvested, still well behind the five-year average of 34% for this date but likely to make good progress this week under clearer skies.

Crop Conditions were rated 22% very poor to poor, 34% fair, and 44% good to excellent.

As for today's session, prices started and traded firmer overnight but like most days last week, ran out of steam and eventually turned lower into the US session.

Of some interest today were the China monthly import figures.

For September, China imported 201,271 tons, which was down from 275,885 in August and down from 262,925 tons last September.

The top five import origins this month were Australia at 101,115 tons, United States 35,948 tons, India 12,435 tons, Burkino Faso 10,523 tons and Uzbekistan 10,118 tons.

All totalled, the top five origins accounted for 85% of all imports last month.

Topics:  commodities cotton markets namoi cotton


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