Weekly Cotton Market Review
MEMPHIS - Nov 28/14 - SNS -- The USDA released its latest review of cotton market conditions in the United States, reviewing conditions through the week ending 10 28.
Weekly Cotton Market Review November 28, 2014 Spot cotton quotations were 33 points higher than the previous week, according to the USDA, Agricultural Marketing Services Cotton and Tobacco 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 58.05 cents per pound for the week ended Wednesday, November 26, 2014. The weekly average was up from 57.72 cents last week, but down from 74.54 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 57.44 cents on Monday, November 24 to a high of 58.66 cents on Wednesday, November 26. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended November 26 totaled 57,489 bales. This compares to 69,715 bales reported last week and 44,838 bales reported a year ago. Total spot transactions for the season were 385,351 bales compared to 265,687 bales the corresponding week a year ago. The ICE March settlement prices ended the week at 60.03 cents, compared to 58.86 cents last week. Prices are in effect from November 28-December 4, 2014 Adjustment World Price (AWP) 46.09 ELS Competitiveness Payment 0.00 Loan Deficiency Payment (LDP) 5.91 Fine Count Adjustment 2013 Crop 0.00 Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2014 Crop 0.00 Source: Farm Service Agency, FSA, USDA
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STAT News Service
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