Market Quotation: The Spot Quotation Of American Cotton In The Past Week Dropped By 116 Points On Average Compared With The Previous Week

According to the data of the United States Department of Agriculture (USDA), as of the week ended May 1 (Thursday), the spot quotation of American cotton fell by 116 points on average compared with the previous week.

In that week, the average quotation of basic quality cotton in seven designated markets (color 41, leaf crumbs 4, fiber 34, micronaire values 35-36 and 43-49, strength 27.0-28.9, and uniformity 81.0-81.9) was 63.94 cents per pound.

The average price of that week was lower than 65.10 cents of the previous week and 70.35 cents of the same period last year.

The daily average quotation is between the high of 65.84 cents hit on Friday (April 25) and the low of 62.70 cents hit on Thursday (May 1).

As of the week of May 1, cotton spot trading volume totaled 16449 bales, 38748 bales reported the previous week and 2079 bales reported the same period last year.

The total volume of spot transactions so far this year is 938074 packages, compared with 816116 packages in the same period last year.

On Thursday, the July cotton contract on the Intercontinental Exchange (ICE) closed down 0.36 cents or 0.55% at 65.66 cents/pound.

Cotton spot trading in the southeastern United States was moderate. The supply and asking price are light. Moderate demand. The local average spot price is high.

In the southwest, spot trading in eastern and southern Texas is quiet, while trading in western Texas, Kansas and Oklahoma is active.

Engraving.