Weekly Cotton Market Review

MEMPHIS - May 9/14 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 4 9.

Weekly Cotton Market Review
May 9, 2014
Weekly Cotton Market Review
Average spot cotton quotations were virtually unchanged from 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
86.53 cents per pound for the week ended Thursday, May 8, 2014. The weekly average
was up from 86.50 cents last week, and from 82.35 cents reported the corresponding
period a year ago. Daily average quotations ranged from a high of 87.50 cents on
Monday, May 5 to a low of 85.29 cents on Wednesday, May 7.  Spot transactions
reported in the Daily Spot Cotton Quotations for the week ended May 7, totaled 7,008
bales.  This compares to 9,264 bales last week and 5,601 bales reported a year ago.
Total spot transactions for the season were 1,277,351, compared to 1,622,184 bales
the corresponding week a year ago.  The ICE July settlement prices ended the week at
93.05 cents, compared to 94.20 cents last week.
Prices are in effect from May 9-15, 2014
Adjustment World Price (AWP) 72.34  ELS Competitiveness Payment 0.00
Loan Deficiency Payment (LDP) 0.00  Fine Count Adjustment 2013 Crop 0.38
Coarse Count Adjustment (CCA) 0.00  Fine Count Adjustment 2014 Crop 0.28
Source:  Farm Service Agency, FSA, USDA

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STAT News Service