On September 8-14, 2023, the average standard spot price in the seven major domestic markets in the United States was 81.19 cents per pound, a decrease of 0.53 cents per pound from the previous week and 27.34 cents per pound from the same period last year. That week, 9947 packages were traded in the seven major spot markets in the United States, and a total of 64860 packages were traded in 2023/24.
The spot prices of domestic upland cotton in the United States have decreased, while inquiries from abroad in the Texas region have been light, while inquiries from abroad in the Western Desert region have been light. Export inquiries from the St. John’s region have been light, while prices of Pima cotton have remained stable, and inquiries from abroad have been light.
That week, domestic textile mills in the United States inquired about the shipment of grade 4 cotton from December this year to March next year. Most factories had already replenished their raw cotton inventory to the fourth quarter of this year, and factories were still cautious in replenishing their inventory, controlling finished product inventory by reducing operating rates. The demand for US cotton exports is average. China has purchased grade 3 cotton shipped from October to November, while Bangladesh has an inquiry for grade 4 cotton shipped from January to February 2024.
Some areas in the southeastern and southern United States have scattered rainfall, with a maximum rainfall of 50 millimeters. Some areas are still dry, and new cotton is spreading, but some areas are growing slowly. Cotton farmers are preparing to defoliate for early sowing fields. There is extensive rainfall in the northern part of the southeast region, with a maximum rainfall of 50 millimeters, which is helpful in alleviating drought. Currently, new cotton needs warm weather to promote the ripening of cotton peaches.
There are small thunderstorms in the northern part of the Central South Delta region, and low temperatures at night have caused slow opening of new cotton. Cotton farmers are preparing to harvest machinery, and some areas have entered a climax of defoliation work. The southern part of the Delta region is cold and humid, with nearly 75 millimeters of rainfall in some areas. Although the drought has eased, it continues to be detrimental to the growth of new cotton, and the yield may be 25% lower than the historical average.
There is light rain in the Rio Grande River basin and coastal areas in southern Texas, as well as in the northern coastal areas. There has been more recent rainfall, and the harvest in southern Texas has basically ended. Processing continues to advance rapidly. The probability of rainfall on the Blackland grassland has increased, and defoliation has begun. Harvest in other areas has accelerated, and the yield of irrigated fields is good. The thunderstorm in western Texas has eased the high temperature, and there will be more rainfall in the near future. The rainfall in Kansas has also eased the high temperature, and cotton farmers are waiting for defoliation. Processing is expected to start in October, and the yield is expected to decrease. The overall growth is still good. After the thunderstorm in Oklahoma, the temperature has decreased, and there is still rainfall in the near future. The irrigated fields are in good condition, and the harvest situation will be evaluated in the near future.
The extreme high temperatures in central Arizona, a western desert region, have finally subsided under the influence of cold air. There has been nearly 25 millimeters of rainfall in the area, and the harvest in Yuma Town continues, with a yield of 3 bags per acre. The temperature in New Mexico has dropped and there is 25 millimeters of rainfall, and cotton farmers actively irrigate to promote peach ripening and boll cracking. The weather in the St. John’s area is sunny and there is no rainfall. The cotton bolls continue to crack, and the seedling condition is very ideal. Harvesting continues in Yuma Town, Pima Cotton District, with yields ranging from 2-3 bags per acre. Other areas are experiencing accelerated growth due to irrigation, and harvesting is expected to begin at the end of September or early October.
Post time: Sep-25-2023