KARACHI, Aug 9: Modest physical activity was witnessed on the cotton market on Wednesday as some of the ginners offered to sell stray lots of new crop at the higher levels.

Spinners and mills who are holding short ready positions were quick to lift all of them irrespective of asking prices as transport problem considerably eased owing to a clear weather and prompt delivery of the lint was assured by the cargo haulers, brokers said.

While Sindh type was traded between Rs2,500 and Rs2,525 per maund, central Punjab variety was sold around Rs2,650 but spinners were not inclined to go beyond this level, they added.

They said picking operations of phutti were expected to be resumed during the next couple of sessions as there were no reports of fresh rain and weather was clear.

Reports reaching here from the lower Sindh areas indicated that the picking operations had already been resumed in those areas where fields had dried up after the rains and fit for picking.Spinners are, however, making guarded covering purchases amid hopes that prices may ease from the current higher level after picking operations gather momentum during the next couple of days, they said.

But some other said reports of damage to standing crop in some of the Sindh areas may not allow any significant fall in the prevailing prices during the coming weeks as mill demand is expected to remain on higher side owing to steady exports of textiles.

Official spot rates were, therefore, again firmly held at the last levels, although some of the deals in the new crop were done well above them.

New York cotton futures on the other hand suffered fractional fall of 0.50 and 0.35 cents at 54.75 and 56.53 cents per lb for both the ruling October and forward December contracts respectively.

Ready off-take was light totalling 1,000 bales as under: 200 bales, Hyderabad at Rs2,525, 200 bales each, Mirpurkhas at Rs2,500 and Rs2,515, 200 bales, each Burewala and Arifwala at Rs2,650.