The average standard spot price in the seven major domestic markets in the United States is 75.91 cents per pound, an increase of 2.12 cents per pound from the previous week and a decrease of 5.27 cents per pound from the same period last year. During that week, 16530 packages were traded in the seven major spot markets in the United States, and a total of 164558 packages were traded in 2023/24.
The spot price of upland cotton in the United States has risen, while inquiries from abroad in Texas have been light. Bangladesh, India, and Mexico have the best demand, while inquiries from abroad in the western desert and St. John’s area have been light. Pima cotton prices have remained stable, while inquiries from abroad have been light.
That week, domestic textile factories in the United States inquired about the shipment of grade 5 cotton from January to October next year, and their procurement remained cautious. Some factories continued to reduce production to control yarn inventory. The export of American cotton is generally average. Vietnam has an inquiry for Level 3 cotton shipped from April to September 2024, while China has an inquiry for Level 3 green card cotton shipped from January to March 2024.
Some areas in the southeastern and southern United States have thunderstorms ranging from 25 to 50 millimeters, but most areas are still experiencing moderate to severe drought, affecting crop yields. There is light rain in the northern part of the southeast region, and defoliation and harvesting are accelerating, with normal or good yield per unit area.
The northern part of the Central South Delta region has favorable rainfall of 25-75 millimeters, and processing has been completed by about three-quarters. Southern Arkansas and western Tennessee are still experiencing moderate to severe drought. Some areas in the southern part of the Delta region have experienced favorable rainfall, causing the local area to start preparing for next spring. The ginning work has basically ended, and most areas are still in an extreme and super drought state. Adequate rainfall is still needed before next spring sowing.
The final harvest in eastern and southern Texas encountered rainfall, and due to poor yields and high production input costs, some areas are expected to reduce their planting area next year, and may switch to planting wheat and corn. The Rio Grande River basin has favorable rainfall of 75-125 millimeters, and more rainfall is needed before spring sowing. Sowing will begin at the end of February. Harvest completion in the western highlands of Texas is 60-70%, with accelerated harvest in hilly areas and better than expected quality levels of new cotton.
There are showers in the western desert area, and the harvest is slightly affected. Processing is steadily progressing, and the harvest is completed by 50-62%. There is scattered rainfall in the St. John’s area, and cotton farmers are considering planting other crops next spring. There is rainfall in the Pima cotton area, and the harvest in some areas has slowed down, with 50-75% of the harvest completed.
Post time: Dec-02-2023