Weekly Cotton Market Review

MEMPHIS - Jul 27/12 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 6 27.

Weekly Cotton Market Review
July 27, 2012

Average spot cotton quotations were 43 points 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 4349,
strength 27.0-28.9, uniformity 81.0-81.9) in the seven designated markets averaged
66.05 cents per pound for the week ended Thursday, July 26, 2012. The
weekly average was down from 66.48 cents last week, and 105.50 cents reported
the corresponding period a year ago. Daily average quotations ranged from a high
of 67.08 cents on Friday, July 20 to a low of 64.61 cents on Wednesday, July 25.
Spot transactions reported in the Daily Spot Cotton Quotations for the week ended
July 26 totaled 7,424 bales. This compares to 9,214 bales last week and 5,010
bales reported a year ago. Total spot transactions for the season were 900,831
bales, compared to 651,473 bales the corresponding week a year ago. The ICE
October settlement prices ended the week at 70.68 cents, compared to 71.79 cents
last week.

Prices are in effect from July 27-August 2, 2012
Adjustment World Price (AWP) 63.02 ELS Competitiveness Payment 0.00
Loan Deficiency Payment (LDP) 0.00 Fine Count Adjustment 2011 Crop 0.45
Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2012 Crop 0.65
Source: Farm Service Agency, FSA, USDA

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STAT News Service