KARACHI: Dull and dreary conditions were witnessed on the cotton market on Monday as buyers stayed away from the trading ring.

The suppressed performance by the world’s leading cotton markets also had its toll over the domestic trading, brokers added.

There would be no stability in commodity markets, including cotton, they added.

The yarn market once again turned sluggish with spinners having accumulation of cotton yarn in front of slow offtake. The phutti (seed-cotton) prices however remained firm.

The Indian and Chinese cotton market closed easy while New York cotton showed a mixed behaviour.

The Karachi Cotton Asso­ci­­ation (KCA) left its spot rates steady at weekend level.

The trading on the ready counter was extremely slow. The following deals were reported: 1,400 bales, Saleh Pat, at Rs8,675 to Rs8,800 and 400 bales, Fort Abbas, at Rs8,400.

Published in Dawn, December 18th, 2018