Weekly Cotton Market Review, narrative

mp_cn206 April 24, 2025 Weekly Cotton Market Review Spot quotations averaged 293 points higher than the previous week, according to the USDA, Agricultural Marketing Service�s Cotton and Tobacco Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength 27.0 - 28.9, and uniformity 81.0 - 81.9) in the seven designated markets averaged 65.10 cents per pound for the week ending Thursday, April 24, 2025. The weekly average was up from 62.17 cents last week but down from 73.20 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 63.89 cents on Monday, April 21 to a high of 66.17 cents on Thursday, April 24. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended April 24 totaled 38,748 bales. This compares to 12,798 reported last week and 680 bales reported the corresponding week a year ago. Total spot transactions for the season were 921,625 bales compared to 814,037 bales the corresponding week a year ago. The ICE July settlement price ended the week at 69.17 cents, compared to 67.13 cents last week. Southeastern Markets Regional Summary Spot cotton trading was heavy. Supplies and offerings were light. Demand was moderate. Average local spot prices were higher. Trading of CCC-loan equities was moderate. Mostly cloudy conditions were observed across the lower Southeast during much of the period. Daytime high temperatures were mostly in the 80s with nighttime lows in the 50s and 60s. Widespread scattered thunderstorms brought localized precipitation to areas across north Alabama, and north Georgia throughout the week. Precipitation totals measured from trace amounts to around two inches of moisture. Droughty conditions expanded in areas that missed rainfall across south Alabama, the Florida Panhandle, and south Georgia, according to the U.S. Drought Monitor. Planting activity and fieldwork were getting underway. Overcast conditions prevailed across the upper Southeast during much of the period. Daytime high temperatures were mostly in the 80s. Nighttime low temperatures were in the 50s and 60s. Very light, localized shower activity occurred during the week across the eastern Carolinas. Precipitation totals measured from trace amounts to around one inch of moisture. Planting activity and fieldwork was getting underway. Textile Mill Domestic mill buyers inquired for a moderate volume of color 41, leaf 4, and staple 35 and longer for September through November delivery. No sales were reported. Reports indicated mill buyers have covered most of their raw cotton needs through the year with occasional orders planned as fill-in demand arises. The undertone from mill buyers remained cautious as they balanced raw cotton purchases with yarn orders. Demand through export channels was moderate. Pakistani mill buyers purchased a moderate volume of color 51, leaf 4, and staple 35 for May shipment. Agents for mills in Vietnam inquired for a moderate volume of color 31, leaf 3, and staple 37 for July through September shipment. Trading � A heavy volume CCC-loan equity traded for around 15.00 cents per pound. � Even-running lots containing color 21 and 31, leaf 2 and 3, staple 36, mike 37-49, strength 28-31, and uniformity 78-83 sold for around 72.75 cents per pound, FOB car/truck (Rule 5, compression charges paid). � A moderate volume of color mostly 31 and 41, leaf 3 and 4, staple 35-37, mike 37-49, strength 27-30, and uniformity 80-83 sold for around 70.00 to 71.25 cents, same terms as above. � A light volume of color 31 and 41, leaf 3 and 4, staple 34-37, mike 43-49, strength 27-30, and uniformity 80-83 sold for around 69.25 cents, same terms as above. South Central Regional Summary North Delta Spot cotton trading was slow. Supplies of available cotton were light. Demand was very light. Average local spot prices were higher. Trading of CCC-loan equities was inactive. No forward contracting was reported. Partly cloudy skies brought light rainfall to the Mid-South territory. Daytime high temperatures were in the 70s to 80s. Overnight lows were in the 50s to 60s. Some parts of the region received less than one-half of an inch of precipitation. In Tennessee, flood warnings were issued by the National Weather Service as the Mississippi River has continued to rise. Scattered thunderstorms were in the nearby forecast. According to the National Agricultural Service�s Crop Progress report, released on April 21, planting advanced slowly to 2 percent in Tennessee and was underway in Arkansas and Missouri at 2 percent. Cotton planting is expected to gain momentum soon in some locales. Herbicides are being applied where soils were firm enough to support equipment. According to the U.S. Drought Monitor, released on April 24, small areas of dryness appeared throughout cotton growing areas in Missouri and Tennessee. Drought conditions improvements were observed in Arkansas. Virtual and in-person industry meetings were being planned and attended at state and national levels. South Delta Spot cotton trading was inactive. Supplies of available cotton was light. Demand was very light. Average local spot prices were higher. Trading of CCC-loan equities was inactive. No forward contracting was reported. Daytime high temperatures were in the 70s to 80s. Overnight lows were in the 60s. Partly cloudy conditions with light precipitation characterized the weather pattern during the reporting period. Scattered thunderstorms brought up to three-quarters of an inch of moisture with additional rainfall in the nearby forecast. According to the crop progress report, released on April 21, cotton planting was at 1 percent in Mississippi 2 percent in Louisiana. Flood warnings were issued by the National Weather Service as the Mississippi River in a few local areas continued to rise. According to the U.S. Drought Monitor, released on April 24, some improvement to drought conditions were observed in Mississippi and Louisiana. Fieldwork was hampered due to saturated soils. Farmers patiently waited for a sunny forecast to dry out fields to begin planting activity. Topsoil temperatures are expected to improve. Planting is expected to gain momentum the first week of May. Virtual and in-person industry meetings were being planned and attended at state and national levels. Trading North Delta � A lot containing a moderate volume of color 31 and better, leaf 1-3, staple 36 and 37, mike 41-49, strength 28-31, and uniformity 80-83 sold for around 72.75 cents per pound, FOB car/truck (Rule 5, compression charges paid). South Delta � No trading activity was reported. Southwestern Markets Regional Summary East Texas-South Texas Spot cotton trading was moderate. Supplies and producer offerings were light. Demand was light. Average local spot prices were higher. Producer interest in forward contracting was light. Trading of CCC-loan equities was slow. Foreign mill inquiries were light. Interest was best from India, Pakistan, and Turkey. In East Texas, partly cloudy skies with thunderstorms producing spotty rainfall were observed. Daytime high temperatures were in the mid-80s and the low 90s. Nighttime temperatures were in the low 40s to the mid-50s. Accumulated rain totals varied from one-quarter of an inch to just under three-quarters of an inch of rainfall. Producers in the Blackland Prairies were busy planting and stands continued to progress. Thunderstorms early in the period gave way to sunny and partly cloudy skies mid-week in areas of the Upper Coast, Coastal Bend, and the lower Rio Grande Valley (RGV). Daytime high temperatures cooled into the upper 70s and 80s, with nighttime low temperatures in the 70s. Accumulated precipitation totals ranged from one inch to one and one-half inches of moisture in some locales. Planting continued in the northern counties of the Upper Coast. Seedlings emerged as recent rainfall and warm temperatures helped stands to develop. In the RGV, warm temperatures helped squaring stands to progress. Local experts encouraged producers to monitor and treat aphids with pesticide applications as needed. West Texas-Kansas-Oklahoma Spot cotton trading was active. Supplies and offerings were moderate. Demand was light. Average local spot prices were higher. Producer interest in forward contracting was light. Trading of CCC-loan equities was inactive. Foreign mill inquiries were light. Interest was best from India, Pakistan, and Turkey. In Texas, storm systems moving across areas of the Panhandle south produced beneficial moisture across the region. Daytime temperatures were in the low 70s to the mid-80s, and overnight lows were in the upper 40s to the low 60s. Rainfall is expected to ease drought conditions and improve soil moisture ahead of planting. Total accumulated precipitation totals varied from one-half of an inch up to three inches of rain in parts of the Rolling Plains. Fieldwork and planting preparations were active in West Texas, with planting now just a few weeks out. Growers were busy bedding rows, and others were spraying cover crops and plowing fields. Planting is anticipated to begin in May. In Kansas, periodic showers brought big rains to areas of south-eastern Kansas. Daytime temperatures were in the low 50s to the low 80s, with overnight lows in the 40s to the upper 50s. Additional chances for moisture were in the nearby forecast. Producers were encouraged by recent rainfall, but there is still indecision regarding planting intentions due to futures prices. Field activity continued as producers finished strip tilling fields. In Oklahoma, daytime temperatures were in the low 70s to the upper 80s, and overnight lows were in the upper 40s and 60s. Thunderstorms and windy conditions were observed in Oklahoma during the period. Fieldwork and field prep were ongoing ahead of planting, as weather conditions allowed. Trading East Texas/South Texas � A heavy volume of color 42 and better, leaf 2-5, staple 36-39, mike averaging 43.3, strength averaging 31.9, and uniformity averaging 81.6 sold for around 64.50 cents per pound, FOB warehouse (compression charges not paid). � A heavy volume of color 41, 51, and 42, leaf 2-4, staple 33-35, mike averaging 47.4, strength averaging 29.3, uniformity averaging 80.7, and 25 percent extraneous matter sold for around 61.50 cents, same terms as above. � A light volume of CCC-loan equities traded for .05 cents per pound. West Texas, Kansas & Oklahoma � In Texas, a moderate volume of color 11, leaf 1 and 2, staple 36 and 37, mike 34-46, strength 30-32, and uniformity 79-81 sold for 66.00 to 68.25 cents per pound, FOB car/truck (compression charges not paid). � A moderate volume of color 31 and 41, leaf 2-4, staple 33-36, mike 33-49, strength 25-33, and uniformity 77-82 sold for 57.50 to 58.00 cents, same terms as above. � In Kansas, a moderate volume of color 51 and 52, leaf 4 and 5, staple 36, mike averaging 42.1, strength averaging 31.1, and uniformity averaging 82.0 traded for 60.00 cents, same terms as above. � Mixed lots containing a heavy volume of color 52 and 53, leaf 4-6, staple 34-38, mike 35-51, strength 27-37, and uniformity 78-82 sold for 54.00 to 56.00 cents, same terms as above. � In Oklahoma, a lot containing a moderate volume of color 11 and 21, leaf 1 and 2, staple 36, mike 39-47, strength 29-36, and uniformity 80-83 traded for around 67.25 cents, same terms as above. � Lots containing a moderate volume of color 41 and 42, leaf 3-5, staple 34-49, mike 37-47, strength 29-35, and uniformity 79-83 sold for around 62.00 to 63.50 cents, same terms as above. Western Markets Regional Summary Desert Southwest (DSW) Spot cotton trading was inactive. Supplies and producer offerings were light. Demand was light. Producer interest in forward contracting was light. Average local prices were higher. No forward contracting or domestic mill activity was reported. Foreign mill inquiries were light. In central Arizona, skies were partly cloudy and temperatures saw a reprieve from the triple-digits. Daily highs were in the 80s and 90s, which were still above average. Nighttime lows were in the 50s and 60s. Some areas saw traces of rainfall measuring less than one-tenth of an inch. Planting expanded under favorable conditions. In Yuma, the crop progressed well under sunny, warm conditions. Daily temperatures were in the 80s and 90, with nightly lows in the 50s. No rain was recorded during the period. According to the National Agricultural Statistics Service�s Arizona Crop Progress report released on April 21, cotton planted is at 41 percent, 1 percent higher than the five-year average and the amount planted this time last year. Cotton emergence was at 22 percent, 5 percent higher than the five-year average and 10 percent higher than this time last year. In El Paso, TX and New Mexico, sunny skies prevailed with daytime highs in the upper 80s. Nighttime lows were in the 40s and 50s. Trace amounts of precipitation were recorded. According to the National Agricultural Statistics Service�s New Mexico Crop Progress report released on April 21, cotton planted is at 18 percent, equal to the five-year average and 3 percent below the amount planted this time last year. San Joaquin Valley (SJV) Spot cotton trading was inactive. Supplies and demand were light. No forward contracting or domestic mill activity was reported. Average local prices were higher. Foreign mill inquiries were light. Weather conditions in the SJV were sunny to partly cloudy throughout the period. Temperatures were above average for this time of year with daily highs in the upper 80s. Cooler temperatures entered the area by weeks end. Nightly lows were in the 50s. No rainfall was recorded in the period. Planting activities expanded throughout the territory. According to the National Agricultural Statistics Service�s California Crop Progress report released on April 21, cotton planted was at 30 percent, equal to the five-year average and 12 percent above the amount planted this time last year. American Pima (AP) Spot cotton trading was inactive. Supplies were moderate. Demand was light. No forward contracting or domestic mill activity was reported. Average local spot prices were steady. Foreign mill inquiries were light. In the San Joaquin Valley, weather conditions were sunny with mild temperatures in the upper 80s. Nighttime lows were in the 50s. No rain was recorded in the period. Planting activities expanded under favorable conditions. In the Desert Southwest, temperatures were cooler, with daytime highs in the 80s and 90s. Nightly lows were in the 50s and 60s. Some areas received trace amounts of rain. In central Arizona planting expanded and the crop progressed well under sunny skies in Yuma. Trading Desert Southwest � No trading activity was reported. San Joaquin Valley � No trading activity was reported. American Pima � No trading activity was reported.