July 6, 2012 -12 Days USDA Cotton Spot Week Review

USDA agriculture

Cotton weekly of marketing division, the average weekly price of cotton spot on July 6, 2012 -7 12 fell 242 points compared with last week.

As of Thursday (July 12, 2012), the basic quality cotton (chroma 41, leaf chip 4, fiber 34, micron value 35-36 and 43-49, strong 26.5-28.4, neat degree 81) in seven designated markets a week the average price is 65.06 cents per pound.

This week's average price was lower than last week's average price of 67.48 cents, and the same week last week's average price of 117.85 cents.

The highest price on Sunday averaged 65.49 cents on Wednesday (July 11th) and the lowest point was 64.36 cents on Thursday (July 12th).

As of the week ending July 12th, according to the daily cotton spot market trading report, spot pactions totaled 5774 packages, compared with 3053 packets sold last week, and 2228 packets in the same week last year.

In the same year, spot pactions totaled 884193 packages, compared with 646198 packets in the same week last year.

Thursday's ICE New York cotton settlement price in October was 69.36 cents, compared with 70.77 cents last week.

USDA announces special import quota for No. twenty-second cotton

The US Department of agriculture (Commodity Credit Corp) announced the special import quota of land cotton, allowing imports of Upland Cotton equivalent to the weekly consumption of domestic textile mills.

The quota was established in July 19, 2012 and allowed 13490489 kilograms (61961 bales) of land cotton.

Quota No. twenty-second was established in July 19, 2012. The purchase time of upland cotton is not later than October 16, 2012, and the time for entering the United States is not later than January 14, 2013.

The amount is equivalent to a week's cotton consumption in the domestic textile mills. The calculation is based on the seasonally adjusted average consumption in March 2012 -2012 May, which is the most recent three months data available.

In addition to the amount announced, if the price terms are justified, the Ministry of agriculture will also announce increased import quotas.

Southeast market.

Spot trading is in the doldrums.

The supply is light.

Demand is moderate.

Growers offer light.

Local average prices are weakening.

CCC- loan interest trading is not active.

No forward contract report.

Central and Southern markets.

In the northern part of the Delta, cotton is in short supply.

Growers offer and supply lightly.

The demand is light.

Local average prices are weakening.

CCC- loan interest trading is not active.

No forward contract report.

In the southern part of the Delta, cotton spot trading is not active.

The supply is light.

Growers offer light.

The demand is light.

Local spot average price is weakening.

CCC- loan interest trading is not active.

No forward contract report.

The southwest market.

Spot trading is not active in eastern Texas / Oklahoma.

The quantity is moderate.

The demand is light.

Local average prices are weakening.

The growers offer little.

CCC- loan interest trading is not active.

Enquiries are few in foreign textile mills.

No forward contract.

Enquiries are few in foreign textile mills.

Spot cotton trading is sluggish in Western Texas.

The supply is moderate.

The demand is light.

Local average spot prices fell.

Growers offer light.

No forward contract report.

CCC- loan interest trading is not active.

Enquiries are few in foreign textile mills.

Western market.

Spot cotton trade is not active in the southwest desert area (DSW).

The supply is light.

The demand is light.

Local average prices are weakening.

No forward contract or domestic textile factory activity report.

Enquiries for foreign textile mills are few and require prompt delivery.

San waking Valley (SJV) cotton spot trading is not active.

The supply is light and the demand is light.

Local spot average price is weakening.

No forward contract or textile factory activity report.

Enquiries for foreign textile mills are light and require prompt shipment.

Pima cotton.

Spot trading is in the doldrums.

The supply is moderate.

The demand is light.

The local average price is stable.

No forward contract or domestic textile factory activity report.

Enquiries are made in foreign textile mills, but enquiries are scarce.

Immediate shipment is required.

Enquiries are most active in India and Pakistan.

Textile mill report.

Buyers of domestic textile mills purchase the right amount of 2012 cotton (chromaticity 52 and 42, leaf chips 5, fiber 32- longer), and deliver them from January 2013 to March.

Buyers of textile mills also purchase appropriate amount of cotton delivered from March 2013 to July (chroma 41, leaf chip 4, fiber 35).

There are still some enquiries, which require delivery from August to October. It is a replenishment requirement (chroma 41, leaf chip 4, fiber 32-33).

No other sales.

The report showed that some cotton merchants were hesitant to report large quantities of low grade cotton in 2012 so early this year because cotton had not yet been picked.

Before the cotton picking, most textile mills started in accordance with the 5-7 day plan.

Enquiries for export channels are moderate.

Enquiries are most active in the Far East, requiring all low grades.

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