AGL 38.24 Increased By ▲ 0.09 (0.24%)
AIRLINK 128.95 Increased By ▲ 3.88 (3.1%)
BOP 7.85 Increased By ▲ 1.00 (14.6%)
CNERGY 4.71 Increased By ▲ 0.26 (5.84%)
DCL 8.47 Increased By ▲ 0.56 (7.08%)
DFML 38.96 Increased By ▲ 1.62 (4.34%)
DGKC 81.10 Increased By ▲ 3.33 (4.28%)
FCCL 32.90 Increased By ▲ 2.32 (7.59%)
FFBL 75.25 Increased By ▲ 6.39 (9.28%)
FFL 12.70 Increased By ▲ 0.84 (7.08%)
HUBC 109.40 Increased By ▲ 4.90 (4.69%)
HUMNL 13.90 Increased By ▲ 0.41 (3.04%)
KEL 5.12 Increased By ▲ 0.47 (10.11%)
KOSM 7.74 Increased By ▲ 0.57 (7.95%)
MLCF 38.65 Increased By ▲ 2.21 (6.06%)
NBP 72.51 Increased By ▲ 6.59 (10%)
OGDC 186.65 Increased By ▲ 7.12 (3.97%)
PAEL 25.40 Increased By ▲ 0.97 (3.97%)
PIBTL 7.35 Increased By ▲ 0.20 (2.8%)
PPL 152.11 Increased By ▲ 8.41 (5.85%)
PRL 25.37 Increased By ▲ 1.05 (4.32%)
PTC 17.20 Increased By ▲ 0.80 (4.88%)
SEARL 82.07 Increased By ▲ 3.50 (4.45%)
TELE 7.60 Increased By ▲ 0.38 (5.26%)
TOMCL 32.68 Increased By ▲ 0.71 (2.22%)
TPLP 8.49 Increased By ▲ 0.36 (4.43%)
TREET 16.80 Increased By ▲ 0.67 (4.15%)
TRG 55.75 Increased By ▲ 1.09 (1.99%)
UNITY 28.75 Increased By ▲ 1.25 (4.55%)
WTL 1.35 Increased By ▲ 0.06 (4.65%)
BR100 10,598 Increased By 508.4 (5.04%)
BR30 31,072 Increased By 1563.4 (5.3%)
KSE100 98,926 Increased By 4352.3 (4.6%)
KSE30 30,903 Increased By 1458.6 (4.95%)

ICE cotton gained on Friday, edging away from one-month lows hit in the previous session as the US dollar strengthened, however, the natural fibre was on track for its second straight weekly decline on worries over higher US production. Cotton prices "are not done falling yet. We expect the market to move toward 65 cents over the next two weeks," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.
"Perfect weather conditions (in US growing regions) are bearish, but demand is a little bit friendly." Cotton contracts for December settled up 0.37 cent, or 0.6 percent, at 67.28 cents per lb. It traded within a range of 66.68 and 67.5 cents a lb. In the previous session, prices touched their lowest since July 17 at 66.64 cents a lb. Prices were down about 1.4 percent for the week so far, in what would be a second consecutive weekly decline for the contract.
The first survey of US 2017 crop production indicated an output of 20.5 million bales, 1.5 million above last month and the largest production in 11 year, the US Department of Agriculture said in its monthly World Agricultural Supply and Demand Estimates (WASDE) last week. Meanwhile, in top producer India, cotton output and imports were higher compared to the previous year, while exports fell, according to government data released earlier in the session.
The dollar index was down 0.25 percent. The Thomson Reuters CoreCommodity CRB Index, which tracks 19 commodities, was up 0.92 percent. Total futures market volume rose by 176 to 15,674 lots. Data showed total open interest gained 2,029 to 221,607 contracts in the previous session. Certificated cotton stocks deliverable as of Aug. 17 totaled 15,786 480-lb bales, down from 16,842 in the previous session.

Comments

Comments are closed.