Steady prices and harvest behind schedule

Cotton prices are supported by the lower supply available in Brazil. The crop production got reduced this year. Besides, harvest activities are behind schedule in some producing areas. The major producer in Brazil, Mato Grosso State, should start to harvest in the end of June. There are rumors about lost of productivity in the state, due to adverse weather conditions. The Cepea/Esalq Index for cotton keeps around 0.59 dollar per pound.

Not many export contracts have been settled, since remuneration is better now for trades in the domestic market. The few ones averaged 0.574 dollar per pound (cotton from 2006/07 season). To 2007/08, 0.578 dollar per pound, delivering in July to November 2008.

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