CIJENE PAMUKA NA BURZI U NEW YORKU

U.S. pamuk prodaja na tržištu - 26. studenoga 1997. _________________________________________________________________ Ukupna prodaja na 7 tržišta u SAD-u 30,032 (22,830 prijašnji dan) Prosiječna cijena 1-1/16 inch cotton 67,56 centi (68,04 prijašnji dan) _________________________________________________________________ NEW YORK - pamuk zatvaranje - 26. studenoga 1997. _________________________________________________________________ MJE. ZADNJA OTVA NAJ- NAJ- ZATVA- NAGODBE RANJE VIŠA NIŽA RANJE DEC7 70.38 70.70 70.70 70.23 70.38 70.38 MAR8 70.70 71.21 71.25 70.65 70.70 70.73 MAY8 72.05 72.37 72.40 71.96 72.00 72.01 JUL8 73.01 73.45 73.50 73.00 73.01 73.03 OCT8 74.26 74.55 74.50 74.26 74.26 74.27 DEC8 74.50 74.72 74.80 74.50 74.50 74.51 MAR9 75.55 75.40 75.43 MAY9 76.10 75.90 75.93 JUL9 76.40 76.30 76.33 OCT9 76.40 76.35 76.38 NYCE cotton ends down, March sets new contract low NEW YORK, Nov 26 (Reuters) - NYCE cotton futures ended broadly lower on Wednesday, with speculative selling dragging the March, May, July and October 1998 contracts to new life-of-contract lows, market sources said. They said a sharp downturn in both the Indian and Pakistani currencies against the U.S. dollar on Wednesday weighed on sentiment, sparking concerns U.S. cotton would now be less attractive compared with less-expensive cotton from India and Pakistan. According to the USDA November forecast, the U.S. will produce the most cotton in the world at 18.848 million 480-lb bales in 1997/98, with China second, followed by India at 12.900 million bales and Pakistan at 7.700 million bales. "The currency devaluations in Pakistan and India makes their cotton cheaper and more competitive," said one trader. The Indian rupee on Wednesday sank to a new all-time low of 38.70 against the U.S. dollar, while the Pakistani rupee fell a record 0.12 to 45.12 versus the dollar. Benchmark March cotton fell 0.67 cent per lb on the day, to 70.73 cents, towards the bottom of the session's 71.25-70.65 range. Spot December ended 0.57 cent lower at 70.38 cents, while the back months closed down 0.45 to 0.62 cent. New York cotton prices headed lower from the opening, with downward momentum accelerating after the March contract slipped past its previous lifetime low of 71.00 cents per and triggered sell-stops. Technically, traders said March would find support near 70.50 cents, while today's high of 71.25 cents would provide resistance. Due to the Thanksgiving Day holiday on Thursday, the USDA will delay its weekly export report until Friday at 0830 EST. Traders expect new sales on the week to come around 100,000-150,000 running bales. NYCE will be closed on Thursday, November 27, and Friday, November 28, for the U.S. Thanksgiving Day holiday, reopening on Monday. Volume reached an estimated 10,500 lots, up from Tuesday's official total of 6,222 lots. 271120 MET nov 97