A broker said that the market was trading normally and the trend would continue for a couple of weeks. However, he said that Pakistan Cotton Ginners� Association (PCGA) was likely to release its cotton arrival report this week that could have an impact on the prices.
"Again it depends on the arrivals and unsold stock, if unsold stock remains above 2 million bales, the market would respond normally, any stock below that can push the prices up," he added.
An analyst said that the prices would remain normal for some time but variation was expected at the end of the current month or early next month.
"Some ginners are left with finer lots while others have low quality cotton. The sharp variation in the quality of cotton being sold in the market is evident from difference in prices," he added.
Meanwhile, around 6,000 bales changed hands in the cotton market. Of which, notable deals included 1,000 bales Rahimyar Khan sold at Rs2,550 to Rs2,575 per maund (37.324 kg), 1,000 bales Sadiqabad at Rs2,550 to Rs2,575, 2,000 bales C Goth at Rs2,575 and 1,000 bales Upper Sindh at Rs2,550 to Rs2,570.
On the other hand, cottonseed prices declined to Rs410 per 40 kg in Rahimyar Khan (Punjab) and Rs350 to Rs380 per 40 kg in Nawabshah (Sindh).
The New York cotton market recorded mixed trends in futures contracts, but no major change was noted either way.
March futures declined by 0.40 cent to 55.60 cents per lb and May futures decreased by 0.80 cent to 55.36 cents per lb.
Cotton spot rate remained unchanged at Rs2,525 per maund and Rs2,706 per 40-kg. Ex-Karachi rate remained at Rs2,575 per maund and Rs2,756 per 40-kg after adding Rs50 upcountry charges.
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