The USDA Crop Progress report for July 27 shows squaring and boll set numbers on target with the five-year averages, and overall crop condition well above the same week last year.
Over the past two weeks, prices for Dec14 futures have continued to slide, but tried to stabilize in the 67 to 68.5 cents range. In an extended narrow trading range like this, there is usually not much pressure/interest to push prices either direction on current news. Until July 24, it seems.
According to the July 20 USDA Crop Progress report, squaring and boll set numbers are now above the five-year averages for the date, and overall crop condition remains unchanged in the past week.
Cotton prices remained under pressure this past week. But the downtrend was flat, indicating that the market is ready to start curing low prices.
Thirty-six students from 14 countries graduated from the ACSA International Cotton Institute in Memphis on July 15.
Everyone wants to know what has happened to the cotton market and why? Unfortunately, says Don Shurley, there are no easy answers.
A review of some of the top cotton industry stories impacting the global market.
According to the July 13 USDA Crop Progress report, the 2014 cotton crop is fruiting quickly and is now right in line with the five-year averages for this date.
With December futures, a drop to 65 cents is all but certain. But this week’s export sales report indicates a major sales increase in the face of declining prices. And, the sales report for next week should be just as strong.
In its recent world report, ICAC projects that increases in global cotton stocks and uncertainty surrounding Chinese cotton imports will help keep prices in check.