On June 2-8, 2023, the average standard spot price in the seven major domestic markets in the United States was 80.72 cents per pound, an increase of 0.41 cents per pound compared to the previous week and a decrease of 52.28 cents per pound compared to the same period last year. In that week, 17986 packages were sold in the seven major Spot market in the United States, and 722341 packages were sold in 2022/23.
The spot price of domestic upland cotton in the United States continues to rise, the foreign inquiry in Texas is light, the demand in Pakistan, Taiwan, China and Türkiye is the best, the foreign inquiry in the western desert region and Saint Joaquin region is light, the price of Pima cotton is stable, the foreign inquiry is light, and the cotton merchant’s quotation begins to rise, because the cotton supply starts to be tight in 2022, and the planting is late this year.
That week, there was no inquiry from domestic textile mills in the United States, and some factories were still stopping production to digest inventory. Textile mills continued to maintain caution in their procurement. The export demand for American cotton is average, and the Far East region has inquired about various special price varieties.
There has been no significant rainfall in the southern part of the southeastern region of the United States, and some areas are still in an abnormally dry state, with new cotton planting progressing smoothly. There is also no significant rainfall in the northern part of the southeast region, and sowing is progressing rapidly. Due to the low temperature, the growth of new cotton is slow.
Although there has been rainfall in the northern Memphis region of the Central South Delta region, some areas still miss out on rainfall, resulting in insufficient soil moisture and normal field operations. However, cotton farmers are looking forward to more rainfall to help new cotton grow smoothly. Overall, the local area is in an abnormally dry state, and cotton farmers closely monitor and compete for crop prices, hoping for favorable conditions for cotton prices; Insufficient rainfall in the southern part of the Delta region may affect yield, and cotton farmers are looking forward to a turnaround in cotton prices.
The growth progress of new cotton in the southern coastal areas of Texas varies, with some just emerging and some already flowering. Most of the planting in Kansas has already been completed, and early sowing fields have begun to emerge with four true leaves. This year, cotton seed sales have decreased year-on-year, so the processing volume will also decrease. The planting in Oklahoma is ending, and new cotton has already emerged, with varying growth progress; Planting is underway in western Texas, with most planters already busy in the highlands. New cotton is emerging, some with 2-4 true leaves. There is still time for planting in hilly areas, and planters are now available in dry soil areas.
The temperature in the western desert area is similar to the same period in previous years, and the growth progress of new cotton is uneven. Some areas have bloomed extensively, and some areas have hail, but it has not harmed the new cotton. The St. John’s area has a huge amount of snowmelt, with rivers and reservoirs full, and new cotton is budding. In some areas, the yield forecast has been lowered, mainly due to delayed sowing and low temperatures. Local surveys show that the land cotton area is 20000 acres. Pima cotton has experienced a large amount of melting snow, and seasonal storms have brought rainfall to the local area. The La Burke area has experienced thunderstorms and floods, with some areas experiencing thunderstorms, strong winds, and hail, causing crop losses. Local surveys show that the area of Pima cotton in California this year is 79000 acres.
Post time: Jun-16-2023