On June 23-29, 2023, the average standard spot price in the seven major domestic markets in the United States was 72.69 cents per pound, a decrease of 4.02 cents per pound from the previous week and 36.41 cents per pound from the same period last year. This week, 3927 packages were sold in the seven major Spot market in the United States, and 735438 packages were sold in 2022/23.
The spot price of upland cotton in the United States fell, the foreign inquiry in Texas was light, the demand in China, Mexico and Taiwan, China was the best, the foreign inquiry in the western desert region and Saint Joaquin region was light, the price of Pima cotton was stable, the cotton farmers still had some unsold cotton, and the foreign inquiry was light
That week, domestic textile mills in the United States inquired about the recent delivery of grade 4 cotton, and some factories continued to suspend production in order to digest inventory. Textile mills continued to maintain caution in their procurement. The export demand for American cotton is good, and the Far East region has inquired about various low-priced varieties.
There is extensive rainfall in the southern part of the southeastern United States, with a maximum rainfall of around 25 millimeters. Some cotton fields have accumulated water, and recent rainfall may have adverse effects on late planted cotton. Early sown fields are accelerating the emergence of buds and bolls. There are scattered thunderstorms in the northern part of the southeast region, with a maximum rainfall of 50 millimeters. Some areas have accumulated water, and the emergence of new cotton buds is accelerating.
The extreme high temperatures in the northern part of the Central South Delta region have worsened drought in many areas. The situation in Memphis is severe, and strong winds have caused huge damage to local production and life. It is expected to take several weeks to restore normal. Cotton farmers actively irrigate and remedy the situation, and the emergence of new cotton buds has reached 33-64%. The overall growth of seedlings is ideal. The southern part of the Delta region receives relatively little rainfall and the drought continues, with a budding rate of 26-42%. Louisiana’s growth rate is about two weeks slower than the same period in the past five years.
The growth of new cotton is accelerating in coastal areas of Texas and Rio Rio Grande River basin. The new cotton is blooming, and favorable rainfall appears in some areas. The first batch of new cotton has been harvested on June 20 and will be auctioned. The new cotton continues to bud. Strong thunderstorms lead to ponding in cotton fields, but also bring good things to arid areas. There is still rainfall in other areas in eastern Texas. In some areas, the monthly rainfall is 180-250 mm. Most plots grow normally, and strong winds and hail cause some losses, New cotton is beginning to bud. The western part of Texas is hot and windy, with heatwaves rolling throughout the region. The growth progress of new cotton varies, and hail and floods have caused losses to the cotton. New cotton in the northern highlands needs time to recover from the hail and floods.
The western desert area is sunny and hot, with rapid growth of new cotton and ideal yield expectations. The St. John’s area has high temperatures and new cotton has already bloomed. The weather in the Pima cotton area is dry and hot without rain, and the growth of new cotton is normal. There are already cotton fields blooming in the California area, and some new cotton is damaged due to strong winds and hail in the Lubbock area. The growth of new cotton is normal.
Post time: Jul-05-2023