The Farmer's Weblog

Tuesday, October 15, 2002

Weekly Cotton Market Review USDA AMS
Western markets. Spot cotton trading was inactive in the San Joaquin Valley (SJV). Supplies were light and mostly in merchant hands. Demand was very light. Some buyers indicated they were waiting for new crop cotton to be offered. No purchases for domestic mills were reported. No forward contracting was reported; however, a light to moderate amount of option-to-purchase 2002-crop business was done between growers and merchants at a guaranteed minimum price of about 72.00 cents per pound for basis color grade 31, leaf 3, staple 35, mike 35-49, all entitlements to the buyer, as ginned (UD free, FOB warehouse). Agents for mills in Japan purchased a light amount of Acala cotton which sellers said would realistically be shipped during the first half of November because of the lockout at West Coast ports. The lockout was suspended this week following President Bush[base ']s intervention. Receiving and shipping by longshoremen will be slow because of backlogs.

Check out link for complete report.
12:43:30 PM    comment []

This Page was last updated: 12/29/03; 3:37:50 PM
Copyright 2003 Russell Gum
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