KARACHI, Oct 4: Physical activity on the cotton market on Friday was relatively slow as spinners played safe and lifted only those lots which conform to their export parity levels and of good quality.

However, the trading pattern witnessed a significant change as spinners, for the first time, during the current season opted for the Punjab lint, which has been the victim of low micronaire and the consequent lower bids as compared to its Sindh counterpart.

The late Thursday evening details of the ready business reveal a near-panic spinner buying in it on an average rate of Rs2,000 per maund.

“A ready offtake of about 8,000 bales in the Punjab lint signals a decisive shift in spinner covering purchases and indications are that prices could rise if the current tempo is sustained”, one broker predicts.

Lint from almost all the central and southern Punjab came in for active trading, indicating that most of the ginneries have resumed operations there and picking of phutti is in full swing, he adds.

But on the other hand Sindh lint was neglected owing partly to higher asking prices by the ginners and for the second day in a row, spinners purchased as many lots as they could from the Punjab ginners, he added.

“It could well prove the pre-election moping operations by the mills and spinners as leading among them having no financial constraints seemed to be inclined to build-up long positions around Rs2,000”, market sources said.

There is a strong possibility of an increase in prices of both Sindh and Punjab varieties provided spinners remained active buyers during the next couple of sessions too.

Meanwhile, New York cotton futures came in for active selling at the higher level and fell sharply by 1.65 and 1.73 cents per lb for both the maturing October and ruling December contracts at 42.55 and 44.26 cents per lb respectively. The selling came from the speculators on reports of higher US crop ideas.

Official spot rates did not show any change and were held unchanged, although most of the deals in the ready section were done above them.

Ready offtake was active as till late in the evening about 3,000 bales changed hands as under:

SINDH VARIETY: 200 bales, Mirpurkhas at Rs1,950.

PUNJAB TYPE: 200 bales, Haroonabad at Rs2,000, 200 bales, Alipur at Rs1,985, 200 bales, Rajanpur at Rs2,000, 200 bales, Multan at Rs2,000, 200 bales Gagon at Rs1,990 and 200 bales, Sardargarh at Rs2,000.

The following deals in Punjab variety were reported late on Thursday evening: 400 bales, Rahimyar Khan at Rs2,000, 200 bales, Burewala at Rs2,000, 200 bales, at Rs1,975, 200 Sahiwal at Rs1,975, 200 bales, Mian Channu at Rs2,000, 200 bales, Arifwala at Rs1,975, 200 bales, Depalpur at Rs1,960, 400 bales, Chichawatni at Rs2,000, 200 bales, Multan at Rs1,975, 200 bales at Rs1,980, 400 bales, Muridwala at Rs1,985, 400 bales, Sadiqabad at Rs2,000, 200 bales, Hasilpur at Rs2,000, 400 bales, Bahawalpur at Rs2,000, 200 bales, Khanewal at Rs2,000 and 200 bales, Vehari at Rs1,950.