The average standard spot price in the seven major domestic markets in the United States is 79.75 cents/pound, a decrease of 0.82 cents/pound compared to the previous week and 57.72 cents/pound compared to the same period last year. That week, 20376 packages were traded in the seven major spot markets in the United States, and a total of 692918 packages were traded in 2022/23.
The spot prices of domestic upland cotton in the United States have declined, and foreign inquiries in the Texas region have been light. The best demand is for immediate shipment of grade 2 cotton, while China has the best demand. The foreign inquiries in the Western Desert and St. John’s region are light, while the price of Pima cotton is stable, while the foreign inquiries are light.
That week, domestic textile mills in the United States inquired about the shipment of grade 4 cotton from June to September, and some factories are still stopping production to digest inventory. Textile mills continue to maintain caution in their procurement. There is a good demand for US cotton exports, with China purchasing grade 3 cotton shipped from November to December and Vietnam purchasing grade 3 cotton shipped in June.
Some areas in the southern part of the southeastern region of the United States have scattered rainfall, with maximum rainfall ranging from 50 to 100 millimeters. Some areas have delayed sowing, and the sowing progress is slightly behind the average of the same period in the past five years. However, rainfall helps alleviate drought. There are large-scale thunderstorms in the northern part of the southeast region, with rainfall ranging from 25 to 50 millimeters. The drought in cotton fields has eased, but sowing has been delayed and the progress has fallen behind previous years. In the northern part of the Central South Delta region, there is rainfall of 12-75 millimeters, and most areas are hindered from sowing. The completion of sowing is 60-80%, which is generally stable or slightly higher than the same period in previous years. The soil moisture is normal. There is scattered rainfall in the southern part of the delta region, and early sowing fields are growing well. Field operations in waterlogged areas are hindered, and new cotton needs to be replanted. Planting in various regions has been completed by 63% -83%.
There is light rain in Rio Grande River basin in southern Texas. The new cotton grows smoothly. The early sowing field has blossomed. The overall growth trend is optimistic. The growth progress in other regions is uneven, but the buds have already appeared and the initial flowering has occurred. There is rain in Kansas, and the early sowing field grows rapidly. After the rain in Oklahoma, it began to sow. There is more rain in the near future, and the sowing has been completed 15-20%; After rainfall in western Texas, new cotton seedlings emerged from dryland fields, with a rainfall of 50 millimeters. The soil moisture improved and about 60% of the planting was completed. The Lubbock area still needs more rainfall, and the planting insurance deadline is June 5-10.
New cotton in the western desert region of Arizona is growing well, with some areas experiencing strong thunderstorms. New cotton is generally in good condition, while other areas generally experience light rain. The low temperature in the St. John’s area has slowed down the growth of new cotton, and there are still flood warnings in the Pima cotton area. Some areas have thunderstorms, and the overall growth of new cotton is good. The cotton plant has 4-5 true leaves.
Post time: May-31-2023