U.S. Cotton City Demand Shows Frosty Planted Cotton 18%

Period, spot price

From April 25 to 28, 2011, the average spot price of the US standard seven domestic markets was 160.94 cents/lb, down 14.22 cents/lb from the previous week and up 83.11 cents/lb from the same period of last year. The ICE** July contract settled at 152.02 cents/lb, down 15.49 cents/lb from the previous week. During the week, the US’s seven domestic spot markets had accumulated zero turnover. From April 29 to May 5, 2011, the AWP price was 163.23 cents.

Transactions

During the week, the demand in the major US spot markets was very light, and the prices fell. Only the demand in the San Joaquin region was acceptable. The demand for Pima cotton was good and the price was stable. China's procurement interest was the best. As prices continue to fall, foreign inquiry in the central and western regions is still very small.

Weather conditions and harvest progress

According to the cotton planting progress report released by the US Department of Agriculture on May 2, as of May 1, 15 cotton-producing states, except for Kansas and Missouri, began to grow. The national average progress rate is 18%, which is slower than last year. 6%, which is 6% slower than the average of the same period in the past five years. The fastest-growing California, Arizona, and Louisiana were 80%, 70%, and 65%, respectively.

During the week, storms and tornadoes hit the southeast of the United States. Cotton planting was hampered; storms and hail occurred in the northern part of the delta. Water was accumulated in most areas, field operations were interrupted, heavy rain fell in the southern part of the delta, cotton planting was interrupted; storms and tornadoes in eastern Texas were observed. Although drought relief was eased, planting continued to be delayed; there was a small amount of planting on the plateau in the southern part of western Texas, but the storm hit a large area of ​​cotton fields; the western desert area was normal and there was no rainfall; the cotton fields were still dry; the planting area in the St. Jojin area expanded , and has been fully emerged; Pima cotton growth is normal, except for the cotton area outside California is still dry.

Domestic and foreign textile mill demand

During the week, US mills had an inquiry for 2011 grade 4 cotton shipped in the first quarter of the year but no transaction, and most factories were operating at full capacity. The US cotton export inquiry was scarce, and the number of Chen cotton contract breaches increased.