950811

Liverpool cotton

market report

LIVERPOOL(ENGLAND) With most mills closed for annual holidays, the only feature of fresh interest on European cotton markets was the USDA August crop forecast, industry sources said.

USDA estimated 1995/96 US production at 21,810,700 bales (480-lb bales).

Although a record, the figure was within most trade expectations and did not persuade spinners to abandon their prevailing caution over forward purchases, the sources added.