• Cotton prices have continued rising over the last week on the New York market.
• Wool prices have risen this week in US$ and euro terms over a new increase of the Australian dollar.
US Cotton Futures : Cotton futures settled the Monday traded sharply lower, giving back all of the gains madeon Friday plus more. The weekly USDA Crop Progress report tonight showed that the US cotton harvest is still behind schedule, with only 80% of the crop harvested as of Sunday night, compared to the five year average of 88% at this time. The Commitment of Traders report stated that managed money cotton accounts held a net long position of 30,192 contracts as of last Tuesday. This was a reduction to the net long position of 4,747 contracts. The Cotlook A Index was unchanged at 69.80. ICE reported that there were 63,958 certified bales in delivery warehouses on Nov 25, with no new certs and no decertified bales. There were no new delivery notices against December futures. USDA put the AWP for this week at 46.89 and dropped the LDP/MLG to 5.11, down .01 from the 5.12 last week.
PTA and MEG prices have continued to move into different directions in the last week, amid a slowing down demand from polyester producers in China.