Trading remains dull on cotton market

Trading in cotton remained dull on the week-end though the general belief was that last session of the week might see some change of hands, relevant sources said.
The ginners considered further reduction in spot rate by Rs 25 to Rs 2750 without Rs 50 upcountry expenses. But spinner have been calculating future action in their own way.
New York cotton futures were on downswing. July was down 0.15 cent to 47.85 and October down 0.30 cent to 48.48 cents a pound.
Great hopes were being pinned on next week when sales were being expected to gain pace.

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The KCA Official Spot Rate for Local Dealings in Pak Rupees

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FOR BASE GRADE 3 STAPLE LENGTH 1-1/32"

 MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL

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Rate           Ex-Gin     Upcountry    Spot Rate Ex-Karachi

for            Price                        Sales Tax @ 15%

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37.32 Kgs      2750.00        50                    2800.00

Equivalent-------------------------------------------------

40 Kgs         2947.00        50                    2997.00

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