Moderate trading was seen on cotton market on Saturday as prices were firm in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3375. Some spinners were active to make purchases to meet the urgent needs and it is expected that the ginners will not finalise any deal below their psychological level, they said.
On Friday, cotton futures settled firmer on investor buying sparked by a charge in crude to new record highs, but profit-taking pared gains and analysts feel the market may gradually consolidate its gains into next week. ICE Futures' July cotton contract gained 0.70 cent to close at 71.55 cents per lb, trading from 70.54 to 72.25 cents.
The new-crop December cotton contract added 0.88 cent to 80.23 cents, dealing from 79.20 to 80.73 cents. Volume traded in the July contract at 3:03 pm (1903 GMT) was 6,061 lots while December's tally was 1,835 lots.
The following deals were reported as some 183 bales of cotton from Mirpurkhas sold at Rs 3475, 250 bales from Petohro sold at the same rate, some 4800 bales from Liaquatpur at R 3425 and 1000 bales from Rahim Yar Khan at Rs 3400, dealers 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      3375.00        50                    3425.00
Equivalent-------------------------------------------------
40 Kgs         3617.00        50                    3667.00
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