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USDA Weekly Cotton

Cn_206
Weekly Cotton Market Review
November 17, 2017
Vol. 99 No. 16 

 
Average quotations were 46 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 67.40 cents per 
pound for the week ending Thursday, November 16, 2017. The weekly average was up 
from 66.94 last week, but down from 69.64 cents reported the corresponding period a year 
ago. Daily average quotations ranged from a low of 67.18 cents Tuesday, November 14 to 
a high of 67.61 cents Thursday, November 16. Spot transactions reported in the Daily 
Spot Cotton Quotations for the week ended November 16 totaled 57,873 bales. This 
compares to 62,244 bales reported last week and 94,905 spot transactions reported the 
corresponding week a year ago. Total spot transactions for the season were 237,824 bales 
compared to 245,900 bales the corresponding week a year ago. The ICE December 
settlement prices ended the week at 69.21 cents, compared to 68.29 cents last week. 

 
Southeastern Markets Regional Summary 

Danny Pino ....Macon, GA .......................Danny.Pino@ams.usda.gov 

Spot cotton trading was active. Supplies and 
producer offerings were moderate. Demand was 
moderate. Average local spot prices were firm. 
Trading of CCC-loan equities was inactive. 
Producers took advantage of higher ICE futures to 
book a moderate volume of 2017-crop cotton during 
the period. 

 Mostly sunny to partly cloudy conditions were 
observed across the lower Southeast region, with 
seasonably cool daytime highs in the low 60s to 
mid-70s. Harvesting made good progress in most 
areas as ideal weather conditions allowed fieldwork 
to advance without interruption. In Alabama, 
fieldwork remained one to two weeks behind in some 
areas. Producers mowed stalks and prepared fields 
for winter cover crops. Mostly average yields were 
reported on dryland and irrigated acreage. Modules 
continued to accumulate on gin yards and gins 
operated at capacity. Damp, overcast conditions 
halted fieldwork in portions of the Carolinas and 
Virginia over the weekend and early in the week as 
many areas received light rain and drizzle. Dry, 
sunny weather late in the period helped soft soils to 
firm. Producers attempted to get as much cotton off 
of the stalk, where conditions allowed, before wet 
weather returned. According to the National 
Agricultural Statistics Services Crop Progress report 
released November 13, cotton harvested reached 82 
percent completed in Virginia, 78 in North Carolina, 
72 in South Carolina, 69 in Georgia, and 65 percent 
completed in Alabama. 

Textile Mill 

Domestic mill buyers inquired for a moderate volume 
of color 51 and better, leaf 5 and better, and staple 34 
and longer for first through third quarter delivery 
2018. No sales were reported. The undertone from 
mill buyers was mostly steady with most interest 
focusing on scheduling delivery of previously booked 
2017-crop cotton from domestic cotton shippers. 
Most mills operated five to seven days. Demand for 
open-end and ring-spun yarn was moderate; demand 
for denim was lackluster. 

 Demand through export channels was moderate. 
Agents throughout the Far East inquired for any 
discounted styles of cotton. 


Trading 

..Even-running lots containing color 31, leaf 2 and 3, staple 37-40, mike 43-49, strength 29-32, and 
uniformity 81-83 sold for around 500 to 525 points on ICE December futures, FOB car/truck, Georgia terms 
(Rule 5, compression charges paid, 30 days free storage). 
..Mixed lots containing color mostly 21 and 31, leaf 4 and better, staple 35 and longer, mike 43-49, strength 
28-31, and uniformity 81-83 sold for around 400 points on ICE December futures, same terms as above. 
..A moderate volume of color 31 and 41, leaf 2-4, staple 34 and longer, mike 37-49, strength 28-31, and 
uniformity 81-83 sold for 300 to 350 points on ICE December futures, same terms as above. 


South Central Markets Regional Summary .

Jeff Carnahan ....Memphis, TN .......................Jeff.Carnahan@ams.usda.gov 

North Delta 

Spot cotton trading was slow. Supplies of available 
cotton were light. Demand was moderate. Average 
local spot prices were firm. Trading of CCC-loan 
equities was inactive. No forward contracting was 
reported. Cotton was being delivered to fulfill 
contracts. 

Cold, partly cloudy climatic conditions prevailed 
during the week. Daytime temperatures were in the 
50s and 60s. Overnight lows were in the 30s and 40s. 
A cold front brought sporadic rain showers, which 
delayed outdoor activities in most areas. Producers 
were harvesting, where the lint was sufficiently dry 
and fluffy and fields were firm enough to support 
equipment. Yields varied from 900 to 1,400 pounds 
per acre. Regrowth on defoliated cotton plants was 
observed in a few unharvested fields in Arkansas. 
Stalks were shredded and fields prepared for spring 
planting. Ginning continued without interruption, 
since most gins were maintaining large backlogs of 
modules on their yards. According to the National 
Agricultural Statistics Services Crop Progress report 
released November 13, harvesting in Arkansas was 
93 percent completed, 92 in Missouri, and 72 percent 
in Tennessee. 

South Delta 

Spot cotton trading was slow. Supplies of available 
cotton were light. Demand was moderate. Average 
local spot prices were firm. Trading of CCC-loan 
equities was inactive. No forward contracting was 
reported. Cotton was being delivered to fulfill 
contracts. 

Clear, cold weather prevailed early in the period. 
A storm front brought more rain showers during the 
week. Daytime temperatures were in the 60s. 
Overnight lows were in the 30s and 40s. Harvesting 
activities were delayed in some late-planted fields; 
producers were concerned about the effect of the 
moisture on cotton still in the field. The cold, wet 
weather inhibited the effectiveness of defoliants in a 
few fields; regrowth was observed in a few 
unharvested fields in Mississippi. Producers reported 
yields from 900 to 1,300 pounds per acre. Ginning 
progressed slowly in gins that were only operating 
one shift, due to a lack of available workers. 
Producers were harvesting and shredding stalks in 
fields where soils were firm enough to support 
equipment and the lint was sufficiently dry and fluffy. 
According to the National Agricultural Statistics 
Services Crop Progress report released November 
13, the crop had been 100 percent harvested in 
Louisiana, compared to 93 percent in Mississippi. 

Trading 

North Delta 

..A light volume of color 31 and better, leaf 3 and better, staple 36 and longer, mike averaging 45.8, strength 
averaging 31.1, and uniformity averaging 81.6 traded at around 73.50 cents per pound, FOB car/truck (Rule 
5, compression charges paid). 
..A light volume of color 41 and better, leaf 4 and better, staple 37 and longer, mike averaging 45.6, strength 
averaging 30.1, and uniformity averaging 83.3 traded at around 70.75 cents, same terms as above. 

South Delta 

..A moderate volume of color 31 and better, leaf 3 and better, staple 36 and longer, mike averaging 45.8, 
strength averaging 31.1, and uniformity averaging 81.6 traded at around 73.50 cents per pound, FOB 
car/truck (Rule 5, compression charges paid). 
..A light volume of color 41 and better, leaf 5 and better, staple 37 and longer, mike averaging 43.9, strength 
averaging 31.4, and uniformity averaging 81.8 traded at around 275 points on ICE March 2018 futures, 
same terms as above. 


Southwestern Markets Regional Summary .

Jane Byers-Angle ....Lubbock, TX.. ........................Jane.Byers-Angle@ams.usda.gov 

East Texas 

Spot cotton trading was active. Supplies and 
producer offerings were moderate. Demand was very 
good. Average local spot prices were firm. Producer 
interest in forward contracting was light. Trading of 
CCC-loan equities was slow. Foreign inquiries were 
heavy. Interest was best from Pakistan, Taiwan, and 
Turkey. 

 Ginning continued in south Texas and some gins 
planned to operate through late-November to 
mid-December to process remaining modules. Most 
fields were prepped for winter and are in need of 
good rains ahead of spring planting. Rainfall was 
reported in the Blackland Prairies early in the 
reporting period. Some modules were transported to 
gin yards and ginning operations neared completion. 
Fertilizer was applied to fields. In Kansas, harvesting 
slowly gained momentum with daytime temperatures 
in the low 50s to low 60s and nighttime lows in the 
mid-30s to mid-50s. Overcast conditions prevailed. 
Ginning steadily expanded. According to the 
National Agricultural Statistics Services (NASS) 
Crop Progress report released on November 13, the 
crop was rated mostly fair-to-good. Harvesting was 
25 percent completed compared to 33 percent the 
year before. In Oklahoma, some irrigated fields 
yielded as much as 4 to 5 bales per acre, but dryland 
yields were mixed, according to local reports. 
Producers were encouraged with the quality results. 
Harvested fields had reached 48 percent completed 
compared to 53 percent last year, according to NASS. 
The condition of the crop was rated 88 percent good. 

 

West Texas 

Spot cotton trading was active. Supplies and 
producer offerings were heavy. Demand was very 
good. Average local spot prices were higher. 
Producer interest in forward contracting was light. 
Trading of CCC-loan equities was inactive. Foreign 
inquiries were heavy. Interest was best from 
Pakistan, Taiwan, and Turkey. 

 Overcast, humid weather prevailed, which 
interrupted harvesting. Daytime high temperature 
were in the low 60s to upper 70s, with nighttime lows 
in the low 40s to mid-50s. Dense morning fog 
slowed module transportation from fields to gin 
yards. Harvesting made progress during periods of 
sunshine after the foggy conditions dissipated, which 
was mostly in the middle of the day. Ginning made 
good progress and continued uninterrupted, except 
for a few gins that needed more modules transported 
to their yards. Some gins began initial operations. 
Industry was generally encouraged by the quality of 
the crop, but noted an increased amount of low 
micronaire. Sample receipts continued to increase at 
the Abilene, Lamesa, and Lubbock Classing Offices. 
Meetings were held to discuss the progress of the 
crop. 

Trading 

East Texas 

..A moderate volume of mostly color 31 and better, leaf 3 and 4, staple 35-38, mike 42-49, strength 27-30, 
and uniformity 79-82 sold for around 64.75 cents per pound, FOB warehouse (compression charges not 
paid). 
..In Oklahoma, a heavy volume of mostly color 31 and better, leaf 3 and better, staple 36 and longer, mike 
33-52, strength 27-33, and uniformity 77-83 sold for 70.25 to 71.00 cents per pound, FOB car/truck 
(compression charges not paid). 
..A moderate volume of color 41 and better, leaf 5 and better, staple 36 and longer, mike averaging 34.3, 
strength averaging 29.9, and uniformity averaging 81.4 sold for around 68.00 cents, same terms as above. 
..A moderate volume of CCC-loan equities traded for 13.50 to 14.00 cents. 

West Texas
..A moderate volume of color 21 and 31, leaf 2 and 3, staple 37, mike 35-38, strength averaging 31.6, and 
uniformity 81-82 sold for around 71.00 cents per pound, FOB car/truck (compression charges not paid).
..A heavy volume of mostly color 41 and better, leaf 3 and better, staple 37 and longer, mike 33-52, 
strength 28-32, and uniformity 77-83 sold for around 70.25 cents, same terms as above.
..A moderate volume of mostly color 31 and better, leaf 3 and better, staple 36 and longer, mike 24-29,
 strength averaging 29.9, and uniformity averaging 79.8 sold for around 58.00 cents, same terms as above.
..A moderate volume of color 41 and better, leaf 4, and staple 33 and longer was sold to Turkish mills for January and February 2018 shipment.


Western Markets Regional Summary .

Maria Townsend ....Visalia, CA ...........................Maria.Townsend@ams.usda.gov 

Desert Southwest (DSW) 

Spot cotton trading was inactive. Supplies were 
light. Demand was moderate. Producers delivered 
2017-crop cotton to the co-op, merchant marketing 
pools, or into the CCC-loan program. Average local 
spot prices were higher. No domestic mill activity 
was reported. Foreign mill inquiries were light. 

 Sunny and mild conditions were the norm for 
Arizona. Harvesting and ginning were active in 
central Arizona and Safford. Most gins were in 
operation, with the exception of two. Some gins will 
process more cotton compared to last year, as 
increased plantings and good yields were reported. 
Quality results were good. Producers were shredding 
stalks and prepared fields for winter plantings. 
Weather conditions were seasonable in New Mexico 
and El Paso, Texas. Temperatures were mostly in the 
70s. Clear, open weather allowed harvesting and 
ginning to advance. Modules were transported to gin 
yards. 

San Joaquin Valley (SJV) 

Spot cotton trading was inactive. Supplies were light. 
Demand was moderate. Producers delivered 
2017-crop cotton to the co-op, merchant marketing 
pools, or into the CCC-loan program. Average local 
spot prices were firm. No forward contracting or 
domestic mill activity was reported. Foreign mill 
inquiries were slow. Interest was best for saw-ginned 
Acala. Shippers prices were firm. 

 Daytime temperatures were mostly in the high 60s 
to low 70s. No moisture was received in the period. 
Clouds moved into the Valley late in the period. 
Heavy rains are forecasted for northern California 
and snowfall in the Sierra Nevada Mountain range at 
elevations over 8,000 feet late in the period. This is 
promising to be the first significant rain event for the 
Valley. Harvesting was virtually completed. All gins 
were operating in the SJV, with the exception of two. 
Producers shredded stalks and readied fields for 
winter plantings. 

American Pima (AP) 

Spot cotton trading was slow. Supplies and demand 
were moderate. Average local spot prices were 
higher. Forward contracting was active in the San 
Joaquin Valley (SJV). No domestic mill activity was 
reported. Foreign mill inquiries were moderate. 
Interest was best from China, India, Japan, Pakistan, 
and Peru. Shippers price ideas were higher. 
According to the Foreign Agricultural Service Export 
Sales report, approximately 421,200 bales of 
2017-crop AP were committed for the week ending 
November 9, 2017. 

 Temperatures were in the 70s to 80s in Arizona, 
California, New Mexico, and El Paso, Texas. 
Harvesting continued in Arizona, New Mexico, and 
El Paso, Texas. No rainfall was recorded in the 
period. First pick harvesting was completed in the 
SJV, and second pick harvesting neared completion. 
Ginning continued uninterrupted, with all AP gins in 
operation for the region. 

Trading 

 

Desert Southwest 

..No trading activity was reported. 


 

San Joaquin Valley 

..No trading activity was reported. 


 

American Pima 

..A moderate volume of 2017-crop cotton, color 2, leaf 2, and staple 46 and longer was contracted for 145.00 
to 150.00 cents per pound, UD free, FOB warehouse. 
..A light volume of 2017-crop cotton color 2, leaf 2, and staple 46 and longer, mike 35-49, and strength 38.0 
and stronger sold for around 145.00 cents per pound, FOB West Coast.