The Farmer's Weblog

Saturday, October 26, 2002

USDA AMS Weekly Cotton Report
Average spot quotations were 187 points higher than 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 26.5-28.4, uniformity 81) in the seven designated markets averaged 40.41 cents per pound for the week ending Thursday, October 24. The weekly average was up from 38.54 cents per pound for the previous week and 26.74 cents during the corresponding week a year ago. Quotations ranged from a low of 39.46 cents on Friday, October 18 to a high of 41.89 cents on Thursday, October 24. The NY December 2002 futures settlement price ended the week at 45.89 cents compared to 44.04 cents a week ago.
8:22:39 AM    comment []

Cotton Marketing Weekly O.A. Cleveland, Ph.D.
This could be habit forming, another week with higher cotton prices. One would like to get excited and conclude we have finally seen the end of the doldrums. I wish. December prices do have room to move higher. As harvest progresses, mills are feeling the pinch to increase pricing and merchants are just beginning to scramble for a few of the grades that will likely prove to be in short supply. Too, weather problems have taken a toll on production in all regions except the West. These events speak to higher prices, but demand continues lag year ago levels.
8:15:14 AM    comment []

This Page was last updated: 12/29/03; 3:37:54 PM
Copyright 2003 Russell Gum
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