December 1, 2017
Average quotations were 178 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 70.15 cents per pound for the week ending Thursday, November 30, 2017.
The weekly average was up from 68.37 last week, but down from 70.40 cents reported the corresponding period a year ago. Daily average quotations ranged from a low of 69.30 cents Monday, November 27 to a high of 71.16 cents Wednesday, November 29.
Spot transactions reported in the Daily Spot Cotton Quotations for the week ended November 30 totaled 98,660 bales. This compares to 98,441 bales reported last week and 54,536 spot transactions reported the corresponding week a year ago. Total spot transactions for the season were 434,925 bales compared to 356,031 bales the corresponding week a year ago. The ICE March settlement prices ended the week at 72.81 cents, compared to 71.14 cents last week. (Source: Agfax.com)