From USDA |
March 2, 2018
Average quotations were 335 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, uniformity 81.0-81.9) in the seven designated markets averaged 78.60 cents per pound for the week ending Thursday, March 1, 2018.
The weekly average was up from 75.25 last week and 73.20 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 77.81 cents Friday, February 23 to a high of 79.38 cents Wednesday, February 28.
Spot transactions reported in the Daily Spot Cotton Quotations for the week ended March 1 totaled 74,941 bales. This compares to 83,744 bales reported last week and 58,171 spot transactions reported the corresponding week a year ago.
Total spot transactions for the season were 1,553,448 bales compared to 1,386,903 bales the corresponding week a year ago. The ICE May settlement prices ended the week at 81.81 cents, compared to 79.47 cents last week. (Source: Agfax.com)