Us: Cotton Prices Fall Sharply, Planting Prospects Are Not Optimistic

On the 13-19 th of March 2020, the average price of the seven standard market spots in the United States was 52.58 cents / pound, down 3.57 cents / pound compared with the previous week, down 17.7 cents / pound compared with the same period last year. In the week, seven major markets in the US traded 18593 bags, and the total turnover was 1374070 packages this year.

The spot prices in various parts of the United States declined, and foreign enquiries in the northern part of the Delta were light. The demand in Bangladesh, China, Egypt and Pakistan was the best. Foreign enquiries in Texas were light. A large number of CCC cotton loans will be closed in March 23rd. The price of cotton in the western desert area and San Yue Jin area has dropped sharply, the price of foreign enquiries is light, and the price of Pima cotton is stable. At a low price, cotton traders expect China to return to the import market.

When the United States domestic textile factories had inquiry prices for shipment of grade 4 cotton in the 4 quarter of this year, most buyers were in stock at the spot and in the near future. As the epidemic may cause a sharp decline in demand in the 2 quarter, textile mills were very cautious in purchasing, and the demand for yarn was slant, and began to decline as the demand for terminal consumers decreased. Some textile factories had postponed the shipment date of cotton and avoided backlog. Generally speaking, the US cotton export is general, and the Far East has all kinds of low price and low grade varieties.

During the week, dry and wet areas in the southeastern United States began to prepare for soil moisture. In the north of the Delta, the temperature difference between the north and the north of the delta was larger and there was rainfall. Cotton farmers continued to consider planting intentions. The temperature in the southern part of the delta increased, and cotton fields with suitable soil moisture had begun to prepare for cultivation. After a series of rain, the soil is soft, but it is good for planting cotton. The western part of Texas is drizzle and hail. The soil moisture is good. The temperature in the western desert area is high and thunderstorms. The strong rainfall and low temperature in the yma area lead to the interruption of seeding. The planting is finished at 60%, the temperature in the San Yue Jin area is low, the rainfall is favorable for planting, and it will continue to rain in the near future. Overall, last October. Since the rainfall in this area is obviously lower than that of the whole year, the accumulated temperature of soil is not ideal. The area is expected to decrease by 25-30%. The rainfall of Pima cotton is beneficial to seeding. Some areas are interrupted due to low temperature and rainy weather. Due to insufficient irrigation water and weak cotton prices, the area of California Pima cotton may be reduced by 30%.