The Spot Price Of Cotton In The US Mainland Rose, And Foreign Inquiries Were Light

 

The average spot price of standard grade cotton in the seven major domestic cotton markets in the United States was 80.36 cents/pound, 0.59 cents/pound higher than the previous week, and 54.06 cents/pound lower than the same period last year. During the week, 31700 packages were sold in the seven major spot markets in the United States, and 564709 packages were sold in 2022/23. The spot price of upland cotton in the United States rose, while foreign inquiries were light, the price of Pima cotton was stable, and cotton farmers continued to hold up their prices.

In the same week, domestic textile mills in the United States made inquiries about the fourth grade cotton shipped in the second to fourth quarters, and also about the fourth grade cotton shipped in the second to third quarters. Due to the weak demand for yarn, some factories are still stopping production, and textile mills continue to be cautious in purchasing. The export demand of American cotton is general, and the Far East has inquiry for all kinds of special price varieties.

In the southeast of the United States, there was a large area of showers with rainfall of 25-75mm. Cotton farmers continued to prepare for farming, but the rainfall slowed down field operations. The cotton fields in the central and southern Memphis region are still waterlogged, and the wet and cold weather has prompted cotton farmers to switch to other crops. The rainfall in the southern part of the central and southern region is nearly 75mm, affecting spring sowing operations.

There is 25-125mm rainfall in Rio Grande River basin and coastal areas in southern Texas, which is beneficial to the seeding and emergence of new cotton. Kansas in eastern Texas continues to wait for spring rain to improve and supplement soil moisture, Oklahoma has about 25mm thunderstorm, western Texas continues to have strong wind and weather, and southern plateau area has large-scale rainfall, However, sufficient rainfall is still needed to alleviate the current extreme drought, and outdoor tillage preparation operations are carried out normally.

Sowing resumed in the western desert area when the weather turned warm, and the local area was still in a serious drought state. Some areas of Saint Joaquin abandoned their seeds due to floods, covering an area of 150000 acres. Cotton farmers consider planting other crops. Small scale farming was started in Pima cotton area, and some areas were abandoned due to floods.