Weekly Cotton Market Review
MEMPHIS - Jul 12/13 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 6 12.
Weekly Cotton Market Review July 12, 2013 Weekly Cotton Market Review Average spot cotton quotations were virtually unchanged from the previous week, according to the USDA, Agricultural Marketing Services 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 82.00 cents per pound for the week ended Thursday, July 11, 2013. The weekly average was down slightly from 82.11 cents last week, but up sharply from 65.06 cents reported the corresponding period a year ago. Daily average quotations ranged from a high of 82.89 cents on Wednesday, July 10 to a low of 80.81 cents on Thursday, July 11. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended July 11 totaled 1,531 bales. This compares to 2,868 bales last week and 5,774 bales reported a year ago. Total spot transactions for the season were 1,669,122 bales, compared to 884,193 bales the corresponding week a year ago. The ICE October settlement prices ended the week at 85.18 cents, compared to 87.14 cents last week. Prices are in effect from July 12-18, 2013 Adjustment World Price (AWP) 72.05 ELS Competitiveness Payment 0.00 Loan Deficiency Payment (LDP) 0.00 Fine Count Adjustment 2012 Crop 0.46 Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2013 Crop 0.61 Source: Farm Service Agency, FSA, USDA
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