Steady trend was again seen in the cotton market at the weekend but activity was thin as compared to the previous sessions, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3075, dealers said.
In ready business prices were almost same as trading was seen between Rs 3075-3200. Some 4800 bales from Rahim Yar Khan sold at the highest rate at Rs 3250, dealers said. Phutti prices were same in both Punjab and Sindh at Rs 1460-1510, they added.
The ginners showed some resistance and were trying to sell at the higher rate so some mills kept on the sideline ahead of the Pakistan Cotton Ginners Association (PCGA) fortnightly report due shortly, they said.
The NY cotton futures failed to hold their firmness as the ICE Futures open-outcry March cotton contract slid 1.58 cents to end at 63.46 cents per lb, moving from 63 to 64.75 cents. It was the lowest finish for the contract since early September.The rest lost from 0.03 cent to 3.55 cents. The ICE March electronic cotton contract down 1.48 cents to 63.56 cents at 3:06 pm EST (2006 GMT), dealing from 62.97 to 65.04 cents.
The following deals were reported: 1000 bales from Shahdadpur sold at Rs 3100, 400 bales from Khipro at Rs 3090, 400 bales from upper Sindh at Rs 3200, 1000 bales from Fazil Pur at Rs 3200, 800 bales from SDK at Rs 3200, 1000 bales from Dera Gazi Khan at Rs 3200, 600 bales from RYK at Rs 3200, 1400 bales from Alipur at Rs 3200, 800 bales from Khanewal at Rs 3200, 1000 bales from Noor Poor Noranga at Rs 3200, 800 bales from Chani Goth at Rs 3200, 1000 bales from Rajanpur at Rs 3200, 800 bales from Shadan Lund at Rs 3200, 1000 bales from Fort Abbas at Rs 3175, 1000 bales from Burewala at Rs 3175, 800 bales from Murid Wala at Rs 3175, 600 bales from Yazman Mandi at Rs 3175, and 4800 bales from Rahim Yar Khan at Rs 3250,they said.

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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      3075.00        50                    3125.00
Equivalent-------------------------------------------------
40 Kgs         3295.00        50                    3345.00
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