Weekly Cotton Market Review

MEMPHIS - May 25/12 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 4 25.

Weekly Cotton Market Review
May 25, 2012


Average spot cotton quotations were nearly two and one-quarter cents lower than the previous week, according to the USDA, Agricultural Marketing Service’s Cot­ton Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength 27.0-28.9, uniformity 81.0-81.9) in the seven des­ignated markets averaged 68.60 cents per pound for the week ended Thursday, May 24, 2012. The weekly average was down from 70.80 cents last week and
153.55 cents reported the corresponding period a year ago.  Daily average quota­tions ranged from a high  of 70.78 cents on Friday, May 18 to a low of 65.44 cents on Wednesday, May 23.  Spot transactions reported in the Daily Spot Cotton Quo­tations for the week ended May 24 totaled 9,859 bales. This compares to 2,290 bales last week and 7,129 bales reported a year ago.  Total spot transactions for the season were 856,372 bales, compared to 606,808 bales the corresponding week a year ago. The ICE July settlement prices ended the week at 73.94 cents, compared to 76.65 cents last week.

Prices are in effect from May 25-31, 2012
Adjustment World Price (AWP)   63.78  ELS Competitiveness Payment  0.00
Loan Deficiency Payment (LDP)   0.00  Fine Count Adjustment  2011 Crop   0.25
Coarse Count Adjustment (CCA)    0.00 Fine Count Adjustment 2012 Crop 0.45
Source: Farm Service Agency, FSA, USDA

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STAT News Service