KARACHI, Sept 9: Cotton prices on Tuesday eased from the recent highs by Rs25 to Rs75 per maund on hasty-selling by the ginners followed by reports of larger arrivals of phutti into the ginneries of central Sindh and Punjab.

Floor brokers said the dumping of phutti in large quantity by the growers at lower rates was taken by some of the leading ginners as an improvement in the crop estimates.

In the process the phutti prices also fell by Rs25 to 75 per maund in the Sindh and the central Punjab cotton belts.

However, cotton analysts said at this time of the season, phutti arrivals did show either-way flutters, but this in no way reflects the perception of a higher crop.

As the second picking in the early sown areas is well in progress, growers are inclined to keep their stock position clear before Eidul Fitr holidays and this factor points to larger arrivals of phutti into the ginneries, they said.

The steep decline in the New York cotton futures was another factor behind easy conditions in local market in the last couple of sessions and growers were making hasty selling fearing further fall in prices, they added.

However, general consensus about the future price outlook is that lint prices are expected to fluctuate between Rs4,000 to 4,200 per maund until phutti picking operations are resumed in major cotton growing areas of the upper Sindh and the southern Punjab.

After having fallen steadily during the last couple of weeks, the New York cotton futures on Tuesday turned mixed. The ruling October contract showed a fractional rise of 0.04 cents at 63.30 cents, while the forward December contract showed a fall of 0.24 cents at 65.60 cents per lb.

Official spot rates were marked down by Rs25 at Rs4,100 per maund in line with the ready prices.

Mill ready off-take was on the higher side totalling about 40,000 bales, including some lots in the Sindh variety, the following being some of the notable deals:

SINDH TYPE: 4,000, 2,600, 400 and 600 bales, Shahdadpur, Tando Adam, Sarhari and Shahpur Chakkar at Rs4,150 to Rs4,175, 500 bales, each Sakrand and Nawabshah and 1,600 bales, Sanghar at Rs4,150, 1,600 bales, Mirpurkhas at Rs4,125 to Rs4,150 and 800 bales, Hyderabad at Rs4,150.

PUNJAB VARIETY: 1,000 bales and 200 bales, Kabirwala at Rs4,125; 2,000 bales, Burewala at Rs4,090 to Rs4,125; 400 bales, Bahawalnagar at Rs4,085; 200 bales each Mian Channu, Renala Khurd, Pak Pattan, Garha Mor Gojra, Chichawanti at Rs4,100, 400 bales, Muridwala and Gaggon at Rs4,075.