Weekly Cotton Market Review
MEMPHIS - May 30/14 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 4 30.
Weekly Cotton Market Review May 30, 2014 Average spot cotton quotations averaged 290 points lower 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 79.21 cents per pound for the week ended Thursday, May 29, 2014. The weekly average was down from 82.11 cents last week, but down from 76.53 cents reported the corresponding period a year ago. Daily average quotations ranged from a high of 79.83 cents on Friday, May 23 to a low of 78.55 cents on Wednesday, May 28. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended May 29, totaled 2,723 bales. This compares to 9,399 bales last week and 4,997 bales reported a year ago. Total spot transactions for the season were 1,294,616 compared to 1,638,566 bales the corresponding week a year ago. The ICE July settlement prices ended the week at 86.15 cents, compared to 87.78 cents last week. Prices are in effect from May 30 - June 5, 2014 Adjustment World Price (AWP) 68.29 ELS Competitiveness Payment 0.00 Loan Deficiency Payment (LDP) 0.00 Fine Count Adjustment 2013 Crop 0.55 Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2014 Crop 0.45 Source: Farm Service Agency, FSA, USDA
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STAT News Service
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