CIJENE PAMUKA NA BURZI U NEW YORKU

U.S. pamuk prodaja na tržištu - 06. siječnja 1998. _________________________________________________________________ Ukupna prodaja na 7 tržišta u SAD-u 33,625 (25,248 prijašnji dan) Prosiječna cijena 1-1/16 inch cotton 65,06 centi (63,96 prijašnji dan) _________________________________________________________________ NEW YORK - pamuk zatvaranje - 06. siječnja 1998. _________________________________________________________________ MJE. ZADNJA OTVA NAJ- NAJ- ZATVA- NAGODBE RANJE VIŠA NIŽA RANJE MAR8 68.41 67.50 68.90 67.30 68.41 68.49 MAY8 69.80 68.75 70.10 68.55 69.65 69.77 JUL8 70.85 69.90 71.20 69.77 70.76 70.83 OCT8 72.75 72.00 72.75 71.92 72.60 72.63 DEC8 73.30 72.95 73.64 72.90 73.30 73.30 MAR9 74.50 73.90 74.50 74.50 74.25 74.28 MAY9 74.50 74.30 74.60 74.50 74.75 74.78 JUL9 74.80 75.25 75.28 OCT9 73.75 74.20 74.35 DEC9 73.25 73.10 73.25 73.25 73.30 73.35 NYCE cotton rallies on speculative short-covering NEW YORK, Jan 6 (Reuters) - NYCE cotton futures ended at their highest level in nearly a month in anticipation of bullish sentiment from the one of the market's biggest players, analysts said. William Dunavant predicted that 1998/99 plantings would decline 600,000 acres, or 4.3 percent, to 13.3 million acres and that 1998/99 output would be 17.7-17.8 million bales, down 1.05 million to 1.15 million, or 6.1 percent from 1997/98, at the National Cotton Council's annual Beltwide conference in San Diego. March cotton ended at 68.49 cents a lb, up 0.95 cent, after ranging between 67.30 and 68.90 cents a lb. May cotton settled at 69.77 cents a lb, down 0.97 cent. The rest of the market finished up 0.05 to up 0.89 cent. "The rally was mostly in expectation of Dunavant's speech, which was friendly to the market," said Judith Gaines, an analyst with Merrill Lynch. "We also had the Sparks report, which also gave the market a boost." Consulting firm Sparks Companies' 1997/98 crop projection was believed to be 18.696 million bales, off 220,000 bales, or 1.1 percent, from last month's projection. The final crop estimate for 1997/98 from the U.S. Department of Agriculture is due Friday at 0830 EST/1330 GMT. On the floor, however, most traders were attributing the rally to an oversold market and a wealth of shorts looking to cover their positions. Tuesday's NYCE speculative/hedge report showed the speculators increasing their short positions by 2.2 percent to 66.4 percent, as of January 2. In the recent Commodity Futures Trading Commission's Commitment of Traders report, non-commercial net short positions fell by 2,604 lots to 29,758 lots. Put another way, non-commercials are net short by nearly a 6-to-1 ratio, down from 7-to-1 two weeks ago. The market triggered buy stops above 68.50 cents a lb in the March contract. A 50 percent retracement of the move from the November 14 high of 72.50 cents a lb would be 69.13 cent a lb. U.S. pamuk prodaja na tržištu - 05. siječnja 1998. _________________________________________________________________ Ukupna prodaja na 7 tržišta u SAD-u 25,248 (33,581 prijašnji dan) Prosiječna cijena 1-1/16 inch cotton 63,96 centi (63,65 prijašnji dan) _________________________________________________________________ NEW YORK - pamuk zatvaranje - 05. siječnja 1998. _________________________________________________________________ MJE. ZADNJA OTVA NAJ- NAJ- ZATVA- NAGODBE RANJE VIŠA NIŽA RANJE MAR8 67.65 66.98 67.85 66.90 67.46 67.54 MAY8 68.80 68.32 69.00 68.25 68.80 68.80 JUL8 69.95 69.70 70.25 69.55 69.91 69.94 OCT8 72.20 71.70 72.35 72.15 72.15 72.15 DEC8 73.20 72.50 73.35 72.50 73.11 73.14 MAR9 73.50 74.12 74.14 MAY9 74.00 74.60 74.65 JUL9 75.00 74.35 75.00 74.95 75.10 75.15 OCT9 73.70 74.00 74.20 DEC9 73.00 73.00 73.00 73.00 73.20 73.30 NYCE cotton rallies on speculative short-covering NEW YORK, Jan 5 (Reuters) - NYCE cotton futures ended higher on speculative short covering in a market that was believed to be mildly oversold, traders and analysts said. Rumblings that the Chinese crop may be better than expected were ignored on the floor, as the substantial short positions opened the first significant trading session of the year taking profits. March cotton ended at 67.11 cents a lb, up 0.04 cent, after ranging between 67.15 and 66.71 cents a lb. May cotton settled at 68.42 cents a lb, down 0.08 cent. The rest of the market finished up 0.25 to down 0.15 cent. "We saw some speculative and fund short-covering," said Ernest Simon, an analyst with Prudential Securities. "There was a little bit of commission house buying joining in, but there wasn't much fundamental behind it. "There's a feeling that the market doesn't have too much farther to fall, so we saw a slight round of short-covering today," he added. Some sources have reported that the Chinese crop may be larger than expected, which would pressure on exports to that part of the world, but so far the market has yet to react. Monday's rally wasn't enough to shake the market from its current range between 66.70 and 68.34 cents a lb. 071200 MET jan 98