AGL 40.30 Increased By ▲ 0.30 (0.75%)
AIRLINK 127.32 Increased By ▲ 0.28 (0.22%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.85 Increased By ▲ 0.41 (0.99%)
DGKC 87.75 Increased By ▲ 0.90 (1.04%)
FCCL 32.80 Increased By ▲ 0.52 (1.61%)
FFBL 64.90 Increased By ▲ 0.10 (0.15%)
FFL 10.33 Increased By ▲ 0.08 (0.78%)
HUBC 109.80 Increased By ▲ 0.23 (0.21%)
HUMNL 14.81 Increased By ▲ 0.13 (0.89%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.54 Increased By ▲ 0.08 (1.07%)
MLCF 41.90 Increased By ▲ 0.52 (1.26%)
NBP 59.67 Decreased By ▼ -0.74 (-1.22%)
OGDC 194.50 Increased By ▲ 4.40 (2.31%)
PAEL 28.27 Increased By ▲ 0.44 (1.58%)
PIBTL 7.80 Decreased By ▼ -0.03 (-0.38%)
PPL 152.10 Increased By ▲ 2.04 (1.36%)
PRL 26.62 Decreased By ▼ -0.26 (-0.97%)
PTC 16.25 Increased By ▲ 0.18 (1.12%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.63 Decreased By ▼ -0.08 (-1.04%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.18 Decreased By ▼ -0.23 (-1.4%)
TRG 52.99 Decreased By ▼ -0.30 (-0.56%)
UNITY 26.74 Increased By ▲ 0.58 (2.22%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,950 Increased By 65.8 (0.67%)
BR30 30,912 Increased By 312.2 (1.02%)
KSE100 93,904 Increased By 548.7 (0.59%)
KSE30 29,099 Increased By 167.8 (0.58%)

Cotton futures rose one percent on Thursday, marking an over three-month high, supported by short-covering ahead of the first notice day of the December contract next week. The March cotton contract on ICE Futures US rose for the fourth straight session, touching a session high of 72.75 cents per lb, the highest since August 12.
"The market is up due to short covering in advance of first notice day for December which is Wednesday," said Jordan Lea, chairman and co-owner of Eastern Trading in Greenville, South Carolina. US government data showed net upland sales totalled 214,400 running bales of cotton for the week ended November 10, up 27 percent from the previous week. The sales data was disappointing considering the levels usually seen during a US cotton industry summit week, according to Louis Rose, an independent cotton trader and consultant with Risk Analytics in Memphis.
The 2016 Sourcing USA Summit was held between November 5-8, 2016 in California, according to the event website. The March cotton contract on ICE Futures US settled up 0.85 cent, or 1.19 percent, at 72.54 cents per lb. It traded within a range of 69.83 and 72.75 cents a lb. Total futures market volume rose by 7,233 to 53,485 lots. Data showed total open interest gained 6,736 to 245,932 contracts in the previous session.

Copyright Reuters, 2016

Comments

Comments are closed.