**MARKET OUTLOOK**

India & International Market Highlights:

• 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.

North Zone:

Cotton traded steady tone across major spot markets of north India on Tuesday. Prices were down Rs 20-30 per maund. In Punjab, ready delivery cotton traded at Rs 3470-3480 a maund. In Haryana, it offered at Rs 3,390-3,3400 while in Rajasthan, ready delivery new cotton quoted at Rs 3,340-3,410 a maund.

Central Zone:

Cotton spot prices steady tone across west India market on Monday. Gujarat Sankar-6 new cotton traded at  Rs 32600-33000 per candy . while B-Grade Cotton traded flat at Rs 31800-32300 per candy. V 797 cotton offered at Rs 24000-25000 a candy. While in Maharashtra, New Crop cotton good grade quoted at Rs 32000-32500 a candy.

South Zone:

Cotton spot price was steady tone across the major trading centers of south India.  

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.

Pakistan :
The Karachi Cotton Association on Monday fixed the official spot rate,or base price, for Grade 3 cotton at 5,734 rupees per maund (40 kg). Grade 3 cotton has a staple length of 1-1/16″ and micronaire value between 3.8 and 4.9 NCL (no control limits), which represents fine to coarse classes of cotton varieties. In the kerb market, the key crop varieties traded in the range of 5,360 to 5,600 rupees per maund.

China :

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.