Weekly Cotton Market Review
MEMPHIS - Mar 14/14 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 2 14.
Weekly Cotton Market Review March 14, 2014 Average spot cotton quotations were 271 points higher than 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 86.75 cents per pound for the week ended Thursday, March 13, 2014. The weekly average was up from 84.04 cents last week, and 82.69 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 86.37 cents on Friday, March 7 to a high of 87.29 cents on Wednesday, March 12. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended March 13, totaled 26,402 bales. This compares to 16,499 bales last week and 16,938 bales reported a year ago. Total spot transactions for the season were 1,232,536 bales, compared to 1,535,448 bales the corresponding week a year ago. The ICE May settlement prices ended the week at 91.68 cents, compared to 91.61 cents last week. Prices are in effect from March 14-20, 2014 Adjustment World Price (AWP) 75.18 ELS Competitiveness Payment 0.00 Loan Deficiency Payment (LDP) 0.00 Fine Count Adjustment 2012 Crop 0.32 Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2013 Crop 0.47 Source: Farm Service Agency, FSA, USDA
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STAT News Service
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